The average selling price of an iPhone purchased by a random sample of 35 customers was $796.

Question:

The average selling price of an iPhone purchased by a random sample of 35 customers was $796. Assume the population standard deviation was $90.

a. Construct a 90% confidence interval to estimate the average selling price in the population with this sample.

b. What is the margin of error for this interval?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Business Statistics

ISBN: 9780134685267

3rd Edition

Authors: Robert A. Donnelly

See More Books

Question Posted: Nov 05, 2019 04:33 AM

See More Questions

The housing market in the United States saw a major decrease in value between 2007 and 2008. The file titled House contains the data on average and median housing prices between November 2007 and...
The average selling price of BlackBerry smartphones purchased by a random sample of 35 customers was $ 311. Assume the population standard deviation was $ 35. a. Construct a 90% confidence interval...
What is the average selling price of a home? The Data and Story Library (DASL) contains data, including the sale price, for a random sample of 117 homes sold in Albuquerque, New Mexico. Go to the...
Do you have convincing evidence of sufficient computer skills to engage in online discussion forums, access online library resources, engage in online videoconferencing, and utilize word processing,...
In this problem, we consider replacing an existing electrical water heater with an array of solar panels. The net installed investment cost of the panels is $1,400 ($2,000 less a 30% tax credit from...
Effect of net income on a firms balance sheet Relaxing Resort Group reported net income of $1,736,000 for the year ended December 31, 2015. Show how Relaxing Resort Groups balance sheet would change...
Unless otherwise specified, which rule will always be processed?
Healthy Products, Inc., uses a traditional product costing system to assign overhead costs uniformly to all products. To meet Food and Drug Administration requirements and to assure its customers of...
e3z (i) Find all the poles of the function f (z) = and plot them on 22(22 +22+2) (ii) an Argand diagram. Hence evaluate the integral of (2) dz, writing your solutions in the form a + jb where a and b...
Given a database of the results of an election, find the number of seats won by each party. There are some rules to going about this: There are many constituencies in a state and many candidates who...
In January of 2018 Bank of America started charging customers a $12 checking account fee. Of course, customers were upset with this change. However, Bank of America claimed that their checking...
The cost of ink cartridges for inkjet printers can be substantial over the life of a printer. Printer manufacturers publish the number of pages that can be printed from an ink cartridge in an effort...
The chartered financial analyst (CFA) is a designation earned after a candidate has taken three annual exams (CFA I, II, and III). The exams are taken in early June. Candidates who pass an exam are...
Which of the following customer needs will cause implied uncertainty of demand to increase? Product margin Average stockout rate Lead time decreases Average forced season end markdown
Forecasting methods that imitate the consumer choices that give rise to demand in order to arrive at a forecast are known as qualitative forecasting methods. time-series forecasting methods. causal...
Demand is external to the supply chain and thus is most uncertain in the manufacturing cycle. replenishment cycle. customer order cycle. procurement cycle.
The objective of customer order entry is to get the correct orders to customers by the promised due date at the lowest possible cost. maintain a record of the product receipt and to complete a...
List the five basic steps of demand forecasting in supply chain management. Which step is more important?
Go to investor.kelloggs.com/investor-relations/annual-reports/ to access Kellogg's 2013 Annual Report. Find the statement of earnings. Sales are the revenue for a merchandise company. How much did...
A horizontal annulus with inside and outside diameters of 8 and 10 cm, respectively, contains liquid water. The inside and outside surfaces are maintained at 40 and 20oC, respectively. Calculate the...
The recent economic recession caused a plunge in new cars sales from 2008 to 2010. This trend resulted in a significant shortage of used cars during the next few years which, in turn, pushed up used...
In an effort to hold colleges accountable for the benefits of a degree, legislation has been recently proposed to require institutions to provide prospective students with salary information for...
Automotive dealerships have made recent efforts to reduce the amount of time required to purchase a car. One strategy is to use the Internet to streamline the process by providing prospective buyers...
Do you look to social media to build your self-esteem? What aspects of social media make you feel better about yourself? What aspects make you feel worse? Do you think that social media has had an...
This is designed to help problem solvers speed up the slower process, slow other processes down to relieve pressure on the slow process, or a combination of the two. This statement BEST describes...
Write a routine request email to your supervisor asking for a 10% increase in your operating budget and to hire another team member for a new project your department is working on. The project is for...

The average selling price of an iPhone purchased by a random sample of 35 customers was $796.

Question:

Step by Step Answer:

a ULC x 79600 164515...View the full answer

Business Statistics

Students also viewed these Mathematics questions