A sample survey of 56 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $33.85 The survey is conducted annually. With the historical data available, assume a known population standard deviation of $16. 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 decimal) (, )

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
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A sample survey of 56 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $33.85 The survey is conducted annually. With the historical data available, assume a known population standard deviation of $16.

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 decimal)

(, )  

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