Solution-Interval estimate on the mean of all hotel room

Interval estimate on the mean of all hotel room rates

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Reference no: EM131099626

Question:

The average cost per night of a hotel room in San Francisco is $550 with a standard deviation is $150 based on a sample of 50 hotel room rates.

a) Construct a 99% confidence interval estimate on the mean of all hotel room rates.

b) What is the 90% confidence interval estimate?

c) What is the 95% confidence interval estimate?

Reference no: EM131099626

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Interval estimate on the mean of all hotel room rates : The average cost per night of a hotel room in San Francisco is $550 with a standard deviation is $150 based on a sample of 50 hotel room rates. a) Construct a 99% confidence interval estimate on the mean of all hotel room rates.

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Interval estimate on the mean of all hotel room rates

Reference no: EM131099626

Reference no: EM131099626

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