According to Travel and Leisure, the average hotel price in the Miami, Florida, was $156 per night

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According to Travel and Leisure, the average hotel price in the Miami, Florida, was $156 per night in 2012. 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: 9780133852288

2nd Edition

Authors: Robert A Donnelly, Robert Donnelly Jr

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Question Posted: Jul 09, 2024 10:09 AM

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According to Travel and Leisure, the average hotel price in the Miami, Florida, was $156 per night

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Business Statistics

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