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. What

Algebra ->  Probability-and-statistics -> 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. What      Log On


   

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) About Me  (Show Source):
You can put this solution on YOUR website!
ME = 1.96(65/sqrt(45)) = $64 rounded
CI: 273 - 64 < μ < 273 + 65