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Description: A sample survey of 62 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $31.11. The survey is conducted annually. With the historical data available, assume a known population standard deviation of $19

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A sample survey of 62 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $31.11. The survey is conducted annually. With the historical data available, assume a known population standard deviation of $19.

(a)

Using the sample data, what is the margin of error in dollars associated with a 95% confidence interval? (Round your answer to the nearest cent.)

(b)

Develop a 95% confidence interval for the mean price in dollars charged by discount brokers for a trade of 100 shares at $50 per share. (Round your answers to the nearest cent.)

$ ( ) to $ ( )

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