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## Statistics

The average cost per night of a hotel room in New York City is \$273 (SmartMoney, March 2009). Assume this estimate is based on a sample of 45 hotels and that the sample standard deviation is \$65.

a. With 95% confidence, what is the margin of error (to 2 decimals)?
b. What is the 95% confidence interval estimate of the population mean?
c. Two years ago the average cost of a hotel room in New York City was \$229. Discuss the change in cost over the two-year period.

Statistics and Probability, Statistics

• Category:- Statistics and Probability
• Reference No.:- M998440

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