Suppose that Randy is an analyst for the bicyling industry and wants to estimate the asking price of used entry-level road bikes advertised online in the southeastern part of the United States. He obtains a random sample of n = 13 online advertisements of entry-level road bikes. He determines that the mean price for these 13 bikes is r = $681.87 and that the sample standard deviation is s = $177.45. He uses this information to construct a 99% confidence interval for u, the mean price of a used road bike. What is the lower limit of this confidence interval? Please give your answer to the nearest cent. %24 What is the upper limit of this confidence interval? Please give your answer to the nearest cent. %24
Suppose that Randy is an analyst for the bicyling industry and wants to estimate the asking price of used entry-level road bikes advertised online in the southeastern part of the United States. He obtains a random sample of n = 13 online advertisements of entry-level road bikes. He determines that the mean price for these 13 bikes is r = $681.87 and that the sample standard deviation is s = $177.45. He uses this information to construct a 99% confidence interval for u, the mean price of a used road bike. What is the lower limit of this confidence interval? Please give your answer to the nearest cent. %24 What is the upper limit of this confidence interval? Please give your answer to the nearest cent. %24
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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