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The average selling price of a smartphone purchased by a random sample of 38 customers was $318. Assume the population standard deviation was $32. a. Construct a 95% confidence interval to estimate the average selling price in the population with this sample. b. What is the margin of error for this interval? a. The 95% confidence interval has a lower limit of $ and an upper limit of $ (Round to the nearest cent as needed.) b. The margin of error is S (Round to the nearest cent as needed.)

The average selling price of a smartphone purchased by a random sample of 38 customers was $318. Assume the population standard deviation was $32. a. Construct a 95% confidence interval to estimate the average selling price in the population with this sample. b. What is the margin of error for this interval? a. The 95% confidence interval has a lower limit of $ and an upper limit of $ (Round to the nearest cent as needed.) b. The margin of error is S (Round to the nearest cent as needed.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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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The average selling price of a smartphone purchased by a random sample of 38 customers was $318. Assume the population standard deviation was $32. a. Construct a 95% confidence interval to estimate the average selling price in the population with this sample. b. What is the margin of error for this interval? a. The 95% confidence interval has a lower limit of $ and an upper limit of $ (Round to the nearest cent as needed.) b. The margin of error is $. (Round to the nearest cent as needed.)
Transcribed Image Text:The average selling price of a smartphone purchased by a random sample of 38 customers was $318. Assume the population standard deviation was $32. a. Construct a 95% confidence interval to estimate the average selling price in the population with this sample. b. What is the margin of error for this interval? a. The 95% confidence interval has a lower limit of $ and an upper limit of $ (Round to the nearest cent as needed.) b. The margin of error is $. (Round to the nearest cent as needed.)
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