Question: This table contains the cost per ounce ($USD) for a sample of 14 dark chocolate bars: 0.66 0.74 0.97 1.33 1.56 0.91 0.73 0.57 1.57
This table contains the cost per ounce ($USD) for a sample of 14 dark chocolate bars:
| 0.66 | 0.74 | 0.97 | 1.33 | 1.56 | 0.91 | 0.73 | 0.57 | 1.57 | 0.53 | 0.67 | 0.87 | 1.49 | 0.95 |
a. Construct a 98% Confidence Interval estimate for the population cost per ounce of dark chocolate bars. (Have to find the sample mean and standard deviation first; sample mean becomes your point estimate)
b. Construct a 90% confidence interval estimate using the same data.
Which estimate gives the larger range of data?
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