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StatisticsQ&A LibraryThe Google Play app store for smartphones offers hundreds of games to download for free or for a small fee. The ones for which a fee is charged are called paid games. For a random sample of five paid games taken in July 2014 on the Google platform, the following fees were charged: $1.09, $4.99, $1.99, $1.99, $2.99.a. Find a point estimate of the mean fee for paid games available on Google's platform.b. The margin of error at the 95% confidence level for this point estimate is $1.85. Explain what this means.Start your trial now! First week only $4.99!*arrow_forward*

Question

The Google Play app store for smartphones offers hundreds of games to download for free or for a small fee. The ones for which a fee is charged are called paid games. For a random sample of five paid games taken in July 2014 on the Google platform, the following fees were charged: $1.09, $4.99, $1.99, $1.99, $2.99.

a. Find a point estimate of the mean fee for paid games available on Google's platform.

b. The margin of error at the 95% confidence level for this point estimate is $1.85. Explain what this means.

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