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Problem 2 A random sample of 41 business days, from 2016 through 2017, of the closing...

Problem 2

A random sample of 41 business days, from 2016 through 2017, of the closing price of Apple stock is conducted. The sample produces an average closing price of $116.16 with a standard deviation of $10.27.

  1. Verify the requirements for the confidence interval.
  2. For a 95% confidence interval, find the margin of error for the true average closing price of Apple stock from 2016 through 2017.
  3. Interpret a 95% confidence interval for the true average closing price of Apple stock from 2016 through 2017.
  4. Respond to the statement that the true average closing price of Apple stock from 2016 through 2017 was less than $125 . Make your response understandable to someone not in the class

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Expert Solution

milcah answered 1 year ago
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