41. Three-megapixel digital cameras are typically the lightest, most compact, and easiest to use. However, if you

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41. Three-megapixel digital cameras are typically the lightest, most compact, and easiest to use. However, if you plan to enlarge or crop images, you will probably want to spend more for a higher-resolution model. The following shows sample prices of five-megapixel and three-megapixel digital cameras (Consumer Reports Buying Guide, 2004).

a. Provide a point estimate of the difference between population mean prices for the two types of digital cameras. What observation can you make about the price of the higherquality five-megapixel model?

b. Develop a 95% confidence interval estimate of the difference between the two population mean prices.

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Essentials Of Statistics For Business And Economics

ISBN: 9780324568608

5th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams

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