Movie Ticket Prices According to Deadline.com, the average price for a movie ticket in 2018 was $ 8.97 . A random sample of movie prices in the San Francisco Bay Area 25 movie ticket prices had a sample mean of $ 12.27 with a standard deviation of $ 3.36 . Do we have evidence that the price of a movie ticket in the San Francisco Bay Area is different from the national average? Use a significance level of 0.05 . Construct a 95 % confidence interval for the price of a movie ticket in the San Francisco Bay Area. How does your confidence interval support your conclusion in part a?
Movie Ticket Prices According to Deadline.com, the average price for a movie ticket in 2018 was $ 8.97 . A random sample of movie prices in the San Francisco Bay Area 25 movie ticket prices had a sample mean of $ 12.27 with a standard deviation of $ 3.36 . Do we have evidence that the price of a movie ticket in the San Francisco Bay Area is different from the national average? Use a significance level of 0.05 . Construct a 95 % confidence interval for the price of a movie ticket in the San Francisco Bay Area. How does your confidence interval support your conclusion in part a?
Solution Summary: The author identifies whether the mean price for a movie ticket in San Francisco is different from the national average.
Movie Ticket Prices According to Deadline.com, the average price for a movie ticket in 2018 was
$
8.97
. A random sample of movie prices in the San Francisco Bay Area 25 movie ticket prices had a sample mean of
$
12.27
with a standard deviation of
$
3.36
.
Do we have evidence that the price of a movie ticket in the San Francisco Bay Area is different from the national average? Use a significance level of
0.05
.
Construct a
95
%
confidence interval for the price of a movie ticket in the San Francisco Bay Area. How does your confidence interval support your conclusion in part a?
Definition Definition Number of subjects or observations included in a study. A large sample size typically provides more reliable results and better representation of the population. As sample size and width of confidence interval are inversely related, if the sample size is increased, the width of the confidence interval decreases.
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