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The average selling price of a smartphone purchased by a random sample of 38 customers was $318. Assume the population standard deviation was $32. a. Construct a 95% confidence interval to estimate the average selling price in the population with this sample. b. What is the margin of error for this interval? a. The 95% confidence interval has a lower limit of $ and an upper limit of $ (Round to the nearest cent as needed.) b. The margin of error is S (Round to the nearest cent as needed.)

The average selling price of a smartphone purchased by a random sample of 38 customers was $318. Assume the population standard deviation was $32. a. Construct a 95% confidence interval to estimate the average selling price in the population with this sample. b. What is the margin of error for this interval? a. The 95% confidence interval has a lower limit of $ and an upper limit of $ (Round to the nearest cent as needed.) b. The margin of error is S (Round to the nearest cent as needed.)

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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The average selling price of a smartphone purchased by a random sample of 38 customers was $318. Assume the population standard deviation was $32. a. Construct a 95% confidence interval to estimate the average selling price in the population with this sample. b. What is the margin of error for this interval? a. The 95% confidence interval has a lower limit of $ and an upper limit of $ (Round to the nearest cent as needed.) b. The margin of error is $. (Round to the nearest cent as needed.)
Transcribed Image Text:The average selling price of a smartphone purchased by a random sample of 38 customers was $318. Assume the population standard deviation was $32. a. Construct a 95% confidence interval to estimate the average selling price in the population with this sample. b. What is the margin of error for this interval? a. The 95% confidence interval has a lower limit of $ and an upper limit of $ (Round to the nearest cent as needed.) b. The margin of error is $. (Round to the nearest cent as needed.)
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