
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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A sample survey of 58 discount brokers showed that the mean price charged for a trade of 100 shares $50 at per share was $33.88 . The survey is conducted annually. With the historical data available, assume a known population standard deviation of 16.
a. Using the sample data, what is the margin of error associated with a 90%confidence interval (to 2 decimals)?
b. Develop a 90% confidence interval for the mean price charged by discount brokers for a trade of 100 shares at $50 per share (to 2 decimals).
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