41. Three-megapixel digital cameras are typically the lightest, most compact, and easiest to use. However, if you
Question:
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.
Step by Step Answer:
Essentials Of Statistics For Business And Economics
ISBN: 9780324568608
5th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams