Discuss the change in cost over the two-year period, Basic Statistics

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Discuss the change in cost over the two-year period

The average cost per nigh of a hotel room in New York City is $273. Assume this estimate is based on A sample of 45 hotels and that the sample standard deviation is $65.

a. With 95% confidence, what is the margin of error?
b. What is the 95% confidence interval estimate of the population mean?
c. Two years ago the average cost of a hotel room in New York City was $229. Discuss the change in cost over the two-year period.

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Basic Statistics: Discuss the change in cost over the two-year period

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Basic Statistics: Discuss the change in cost over the two-year period

Reference No:- TGS0116245

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Recent Questions Asked Basic Statistics

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Basic Statistics: Discuss the change in cost over the two-year period

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