est takes an automobile dealer to sell a Ferrari 458. A random sample of 50 cars had a mean time on the dealer's lot of 54 days. Assume the population standard deviation to be 6.O days. 1. Find the best point estimate of the population mean. DAYS. (Round answer to two decimal places) 2. Find the margin of error for the 95% confidence level. DAYS. (Round answer to two decimal places)

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No SIM
A berkeleycollege.instructure.com
A researcher wishes to
estimate the number of days it
takes an automobile dealer to
sell a Ferrari 458. A random
sample of 50 cars had a mean
time on the dealer's lot of 54
days. Assume the population
standard deviation to be 6.0
days.
1. Find the best point estimate
of the population mean.
DAYS.
(Round answer to two decimal
places)
2. Find the margin of error for
the 95% confidence level.
DAYS.
(Round answer to two decimal
places)
Transcribed Image Text:No SIM A berkeleycollege.instructure.com A researcher wishes to estimate the number of days it takes an automobile dealer to sell a Ferrari 458. A random sample of 50 cars had a mean time on the dealer's lot of 54 days. Assume the population standard deviation to be 6.0 days. 1. Find the best point estimate of the population mean. DAYS. (Round answer to two decimal places) 2. Find the margin of error for the 95% confidence level. DAYS. (Round answer to two decimal places)
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