According to statista.com, the average hotel price in Miami, Florida, was $155 per night in 2017. Assume

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According to statista.com, the average hotel price in Miami, Florida, was $155 per night in 2017. Assume the population standard deviation is $26.00 and that a random sample of 35 hotels was selected.

a. Calculate the standard error of the mean.

b. What is the probability that the sample mean will be less than $160?

c. What is the probability that the sample mean will be more than $163?

d. What is the probability that the sample mean will be between $147 and $151?

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Business Statistics

ISBN: 9780134685267

3rd Edition

Authors: Robert A. Donnelly

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