In a survey conducted to determine the costs of holidays, 196 individuals were randomly sampled. Each was asked to assess the total cost of his or her most recent holiday. The average cost was $1386. Part A Assuming that the population standard deviation was $500, estimate the population mean cost of holidays with 99% confidence. Give the lower and upper limits of this confidence interval to the nearest whole number of dollars in the form xxxx (Do not include a dollar sign.)   Part B What is the width of the confidence interval? Give your answer to the nearest  whole number   Part C True or false: The width of a 95% confidence interval would be larger. Answer by placing T or F in the space provided.

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13011303In a survey conducted to determine the costs of holidays, 196 individuals were randomly sampled. Each was asked to assess the total cost of his or her most recent holiday. The average cost was $1386.

Part A

Assuming that the population standard deviation was $500, estimate the population mean cost of holidays with 99% confidence. Give the lower and upper limits of this confidence interval to the nearest whole number of dollars in the form xxxx

(Do not include a dollar sign.)

 

Part B

What is the width of the confidence interval? Give your answer to the nearest  whole number

 

Part C

True or false:

The width of a 95% confidence interval would be larger. Answer by placing T or F in the space provided.

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