A random sample of hotels in New York City yielded the following nightly rates с d 220 315 430 450 440 355 16 280 265 480 410 395 255 270 250 330 340 490 280 335 240 290 435 355 480 315 310 360 280 355 240 440 280 420 260 The 95% interval estimate of the average nightly hotel rate is, 490 375 410 460 440 355 465 275 15 The margin of error for a 95% interval estimate of the mean nightly rate of all hotels in New York city is, a $22.62 $20.57 $18.70 $17.00 395 220 410 225 480 400 365 415 265 325 415 330 440 480 330 345 355 390

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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K19
A
180 C
181 d
187
188
189
190
191
192
193 15
Home
▪
:
B
$1,895
$1,898
B
Insert Draw
220
315
430
450
440
355
X ✓ fx
$1,929
$1,926
2
WA
280
265
480
410
395
255
182
183 Questions 15 and 16 are related to the following
184 A random sample of hotels in New York City yielded the following nightly rates
185
186
Ready Accessibility: Investigate
Type here to search
$379
$371
$366
$363
D
✓
Page Layout
4+
3
270
250
330
340
490
280
194 a
195 b
196 с
197 d
198
199 16 The 95% interval estimate of the average nightly hotel rate is,
200 a
$338
201 b
$346
202 с
$350
203 d
$353
204
E
335
240
290
435
355
480
F4
$
E270 HW5 FA22 ✓
4
Formulas
F
+
315
310
360
280
355
240
The margin of error for a 95% interval estimate of the mean nightly rate of all hotels in New York city is,
$22.62
$20.57
$18.70
$17.00
Data
F5
G
%
5
205 Questions 17 and 18 are related
206 17 The lower end of a 95% interval estimate of the mean annual salary of persons with an MBA degree five years after
207 graduation is reported to be $98,655. The interval is based on a sample of 120 persons. The sample standard
deviation is $8,670.
208
E270 HW5 LWP WEED
O
440
280
420
260
490
375
Review
27
F6
6
H
+
Search (Alt+())
View
410
460
440
355
465
275
F7
Help
395
220
410
225
480
400
&
7
Power Pivot
F8
365
415
265
325
415
330
8
*
8
L
K
F9
440
480
330
345
355
390
F10
(
9
F11
M
Transcribed Image Text:AutoSave Off H File K19 A 180 C 181 d 187 188 189 190 191 192 193 15 Home ▪ : B $1,895 $1,898 B Insert Draw 220 315 430 450 440 355 X ✓ fx $1,929 $1,926 2 WA 280 265 480 410 395 255 182 183 Questions 15 and 16 are related to the following 184 A random sample of hotels in New York City yielded the following nightly rates 185 186 Ready Accessibility: Investigate Type here to search $379 $371 $366 $363 D ✓ Page Layout 4+ 3 270 250 330 340 490 280 194 a 195 b 196 с 197 d 198 199 16 The 95% interval estimate of the average nightly hotel rate is, 200 a $338 201 b $346 202 с $350 203 d $353 204 E 335 240 290 435 355 480 F4 $ E270 HW5 FA22 ✓ 4 Formulas F + 315 310 360 280 355 240 The margin of error for a 95% interval estimate of the mean nightly rate of all hotels in New York city is, $22.62 $20.57 $18.70 $17.00 Data F5 G % 5 205 Questions 17 and 18 are related 206 17 The lower end of a 95% interval estimate of the mean annual salary of persons with an MBA degree five years after 207 graduation is reported to be $98,655. The interval is based on a sample of 120 persons. The sample standard deviation is $8,670. 208 E270 HW5 LWP WEED O 440 280 420 260 490 375 Review 27 F6 6 H + Search (Alt+()) View 410 460 440 355 465 275 F7 Help 395 220 410 225 480 400 & 7 Power Pivot F8 365 415 265 325 415 330 8 * 8 L K F9 440 480 330 345 355 390 F10 ( 9 F11 M
Expert Solution
Step 1

Here, there are 60 observations. Thus, n = 60.

The sample mean is calculated as follows:

x=i=1nxin   =220+315+430+450++39060   =358.42

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