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5. Camping: Cost of a Sleeping Bag How much does a sleeping bag cost? Let's say you want a sleeping bag that should keep you warm in temperatures from 20°F to 45°F. A random sample of prices ($) for sleeping bags in this temperature range was taken from Backpacker Magazine: Gear Guide (Vol. 25, Issue 157, No. 2). Brand names include American Camper, Cabela's, Camp 7, Caribou, Cascade, and Coleman. 80 90 100 120 75 37 30 23 100 110 105 95 105 60 110 120 95 90 60 70 a. Use a calculator with mean and sample standard deviation keys to verify that $83.75 and s≈ $28.97. b. Using the given data as representative of the population of prices of all sleeping bags, find a 90% confidence interval for the mean price μ of all sleeping bags. c. Interpretation What does the confidence interval mean in the context of this problem?

5. Camping: Cost of a Sleeping Bag How much does a sleeping bag cost? Let's say you want a sleeping bag that should keep you warm in temperatures from 20°F to 45°F. A random sample of prices ($) for sleeping bags in this temperature range was taken from Backpacker Magazine: Gear Guide (Vol. 25, Issue 157, No. 2). Brand names include American Camper, Cabela's, Camp 7, Caribou, Cascade, and Coleman. 80 90 100 120 75 37 30 23 100 110 105 95 105 60 110 120 95 90 60 70 a. Use a calculator with mean and sample standard deviation keys to verify that $83.75 and s≈ $28.97. b. Using the given data as representative of the population of prices of all sleeping bags, find a 90% confidence interval for the mean price μ of all sleeping bags. c. Interpretation What does the confidence interval mean in the context of this problem?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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5. Camping: Cost of a Sleeping Bag How much does a sleeping bag cost? Let's say you want a sleeping bag that should keep you warm in temperatures from 20°F to 45°F. A random sample of prices ($) for sleeping bags in this temperature range was taken from Backpacker Magazine: Gear Guide (Vol. 25, Issue 157, No. 2). Brand names include American Camper, Cabela's, Camp 7, Caribou, Cascade, and Coleman. 80 90 100 120 75 37 30 23 100 110 105 95 105 60 110 120 95 90 60 70 a. Use a calculator with mean and sample standard deviation keys to verify that $83.75 and s≈ $28.97. b. Using the given data as representative of the population of prices of all sleeping bags, find a 90% confidence interval for the mean price μ of all sleeping bags. c. Interpretation What does the confidence interval mean in the context of this problem?
Transcribed Image Text:5. Camping: Cost of a Sleeping Bag How much does a sleeping bag cost? Let's say you want a sleeping bag that should keep you warm in temperatures from 20°F to 45°F. A random sample of prices ($) for sleeping bags in this temperature range was taken from Backpacker Magazine: Gear Guide (Vol. 25, Issue 157, No. 2). Brand names include American Camper, Cabela's, Camp 7, Caribou, Cascade, and Coleman. 80 90 100 120 75 37 30 23 100 110 105 95 105 60 110 120 95 90 60 70 a. Use a calculator with mean and sample standard deviation keys to verify that $83.75 and s≈ $28.97. b. Using the given data as representative of the population of prices of all sleeping bags, find a 90% confidence interval for the mean price μ of all sleeping bags. c. Interpretation What does the confidence interval mean in the context of this problem?
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