A sample survey of 51 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $33.75. The survey is conducted annually. With the historical data available, assume a known population standard deviation of $14. a. Using the sample data, what is the margin of error associated with a 90% confidence interval (to 2 decimals)? b. Develop a 90% confidence interval for the mean price charged by discount brokers for a trade of 100 shares at $50 per share (to 2 decimals). ($

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A sample survey of 51 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $33.75. The survey is conducted
annually. With the historical data available, assume a known population standard deviation of $14.
a. Using the sample data, what is the margin of error associated with a 90% confidence interval (to 2 decimals)?
b. Develop a 90% confidence interval for the mean price charged by discount brokers for a trade of 100 shares at $50 per share (to 2 decimals).
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Transcribed Image Text:Save Submit Test for Grading • Question 13 of 20 ► A sample survey of 51 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $33.75. The survey is conducted annually. With the historical data available, assume a known population standard deviation of $14. a. Using the sample data, what is the margin of error associated with a 90% confidence interval (to 2 decimals)? b. Develop a 90% confidence interval for the mean price charged by discount brokers for a trade of 100 shares at $50 per share (to 2 decimals). tions Navigation Menu O Icon Key OCT tv 26
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