Question

In: Statistics and Probability

How much does a sleeping bag cost? Let's say you want a sleeping bag that should...

How much does a sleeping bag cost? Let's say you want a sleeping bag that should keep you warm in temperatures from 20°F to 45°F. A random sample of prices ($) for sleeping bags in this temperature range is given below. Assume that the population of x values has an approximately normal distribution. 65 75 35 65 70 60 30 23 100 110 105 95 105 60 110 120 95 90 60 70 (a) Use a calculator with mean and sample standard deviation keys to find the sample mean price x and sample standard deviation s. (Round your answers to two decimal places.) x = $ s = $ (b) Using the given data as representative of the population of prices of all summer sleeping bags, find a 90% confidence interval for the mean price μ of all summer sleeping bags. (Round your answers to two decimal places.) lower limit $ upper limit $

Solutions

Expert Solution

Values ( X )
65 147.6225
75 4.6225
35 1776.6225
65 147.6225
70 51.1225
60 294.1225
30 2223.1225
23 2932.2225
100 522.1225
110 1079.1225
105 775.6225
95 318.6225
105 775.6225
60 294.1225
110 1079.1225
120 1836.1225
95 318.6225
90 165.1225
60 294.1225
70 51.1225
Total 1543 15086.55

Mean

Standard deviation

Confidence Interval



Lower Limit =
Lower Limit = 66.2549
Upper Limit =
Upper Limit = 88.0451
90% Confidence interval is ( 66.25 , 88.05 )


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