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A sample of 50 luxury hotels in the Northeast had an average room rate of $325 per night and a standard deviation of $35. The 95% confidence interval is (315.05, 334.95). Check all the appropriate interpretations of this confidence interval. 0 We are 95% confident that the mean room rate for luxury hotels in the Northeast is between $315.05 and $334.95. Ninety-five percent of intervals constructed using our procedure will cover the mean room rate for luxury hotels in the Northeast. We are 95% confident that when we pick a luxury hotel in the Northeast, our room rate will be between $315.05 and $334.95. We are 95% confident that the sample mean of luxury hotel room rates in the Northeast is between $315.05 and $334.95.

A sample of 50 luxury hotels in the Northeast had an average room rate of $325 per night and a standard deviation of $35. The 95% confidence interval is (315.05, 334.95). Check all the appropriate interpretations of this confidence interval. 0 We are 95% confident that the mean room rate for luxury hotels in the Northeast is between $315.05 and $334.95. Ninety-five percent of intervals constructed using our procedure will cover the mean room rate for luxury hotels in the Northeast. We are 95% confident that when we pick a luxury hotel in the Northeast, our room rate will be between $315.05 and $334.95. We are 95% confident that the sample mean of luxury hotel room rates in the Northeast is between $315.05 and $334.95.

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.2: Expected Value And Variance Of Continuous Random Variables
Problem 10E
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A sample of 50 luxury hotels in the Northeast had an average room rate of $325 per night and a standard deviation of $35. The 95% confidence interval is (315.05, 334.95). Check all the appropriate interpretations of this confidence interval. 0 We are 95% confident that the mean room rate for luxury hotels in the Northeast is between $315.05 and $334.95. Ninety-five percent of intervals constructed using our procedure will cover the mean room rate for luxury hotels in the Northeast. We are 95% confident that when we pick a luxury hotel in the Northeast, our room rate will be between $315.05 and $334.95. We are 95% confident that the sample mean of luxury hotel room rates in the Northeast is between $315.05 and $334.95.
Transcribed Image Text:A sample of 50 luxury hotels in the Northeast had an average room rate of $325 per night and a standard deviation of $35. The 95% confidence interval is (315.05, 334.95). Check all the appropriate interpretations of this confidence interval. 0 We are 95% confident that the mean room rate for luxury hotels in the Northeast is between $315.05 and $334.95. Ninety-five percent of intervals constructed using our procedure will cover the mean room rate for luxury hotels in the Northeast. We are 95% confident that when we pick a luxury hotel in the Northeast, our room rate will be between $315.05 and $334.95. We are 95% confident that the sample mean of luxury hotel room rates in the Northeast is between $315.05 and $334.95.
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