SOLUTION: The average cost per night 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.
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Question 939538: The average cost per night 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.
What is the 95% confidence interval estimate of the population mean?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
ME = 1.96(65/sqrt(45)) = $64 rounded
CI: 273 - 64 < μ < 273 + 65
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