A survey of 36 randomly selected iPhone owners showed that the purchase price has a mean of

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A survey of 36 randomly selected iPhone owners showed that the purchase price has a mean of $650 with a sample standard deviation of $24.

a. What is the point estimate of the population mean?

b. What is the point estimate of the population standard deviation?

c. What is the standard error of the sample mean?

d. Compute the 95% confidence interval to estimate the population mean.

e. How many users need to be sampled to estimate the population mean price with 95% confidence and a $10 margin of error?

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Statistical Techniques In Business And Economics

ISBN: 9781260239478

18th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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Question Posted: Dec 14, 2020 12:23 AM

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A survey of 36 randomly selected iPhone owners showed that the purchase price has a mean of

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Statistical Techniques In Business And Economics

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