Question 687323: Can someone please help me with this problem?
This select group has been asked to consider the Colorado City Convention and Visitors Bureau survey of 25 hotels in the local area. The survey is concerned with the current availability of rooms. The availability of the rooms was as follows:
90, 72, 75, 60, 75, 72, 84, 72, 88, 74, 105, 115, 68, 74, 80, 64, 414, 82, 48, 58, 60, 80, 48, 58, and 108.
Consider the average available for all hotel rooms, and identify the point estimate of the average number of available hotel rooms in this lesson from each sample. Construct and interpret a 95 percent confidence level for the true mean number of available hotel rooms, based on the point estimate of each sample. Describe how the confidence intervals will change depending on whether the population standard deviation is known or unknown.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! This select group has been asked to consider the Colorado City Convention and Visitors Bureau survey of 25 hotels in the local area. The survey is concerned with the current availability of rooms. The availability of the rooms was as follows:
90, 72, 75, 60, 75, 72, 84, 72, 88, 74, 105, 115, 68, 74, 80, 64, 414, 82, 48, 58, 60, 80, 48, 58, and 108.
Consider the average available for all hotel rooms, and identify the point estimate of the average number of available hotel rooms in this lesson from each sample.
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Assuming you posted your data values correctly,
There appears to be only one sample.
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x-bar = 89.54
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std of the sample = 71.23 = 14.246
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Construct and interpret a 95 percent confidence level for the true mean number of available hotel rooms, based on the point estimate of each sample.
ME = 1.96*71.23/sqrt(5) = 1.96*14.246 = 27.92
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95% CI: 89.54-27.92 < u < 89.54+27.92
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Describe how the confidence intervals will change depending on whether the population standard deviation is known or unknown.
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I'll leave that to you.
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Cheers,
Stan H.
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