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Confidence interval for the true mean or proportion

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The cost of a daily newspaper varies from city to city. However, the variation among prices remains steady with a standard deviation of 20¢. A study was done to test the claim that the mean cost of a daily newspaper is $1.00. Twelve costs yield a mean cost of 95¢ with a standard deviation of 18¢.

Construct a 95% confidence interval for the true mean or proportion. Answer to one decimal place.

Reference no: EM132853481

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