1. Jo-Ann owns a jewelry store. She use 150 pairs of earrings as her samples for the different designs. The population standard deviation of the price of the earrings is 65 pesos. Suppose that Jo-Ann wants 98% level of confidence to determine the mean proce of all her earrings she is selling. Compute the margin of error of her estimate.

1. Jo-Ann owns a jewelry store. She use 150 pairs of earrings as her samples for the different designs. The population standard deviation of the price of the earrings is 65 pesos. Suppose that Jo-Ann wants 98% level of confidence to determine the mean proce of all her earrings she is selling. Compute the margin of error of her estimate.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

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1. Jo-Ann owns a jewelry store. She use 150 pairs of earrings as her samples for the different designs. The population standard
deviation of the price of the earrings is 65 pesos. Suppose that Jo-Ann wants 98% level of confidence to determine the mean proce of
all her earrings she is selling. Compute the margin of error of her estimate.

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