Question: A study was conducted to determine the average rate per night of the Marriott hotel rooms with queen size bed. A sample of n =

A study was conducted to determine the average rate per night of the Marriott hotel rooms with queen size bed. A sample of n = 60 were selected from Marriott database has a mean of $146 and standard deviation of $22.2. What is the lower bound of the 95% confidence interval when estimating the true average rate per night of the Marriott hotel rooms with a queen size bed?

Write the answer with one decimal place.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!