5. The average cost per night of a hotel room in New York City is $273 (SmartMoney, March 2009). Assume this estimate is based on a sample of 45 hotels and that the sample standard deviation is $65. With 95% confidence, what is the margin of error? b. What is the 95% confidence interval estimate of the population mean? Degrees of Freedom Area in Upper Tail .20 .10 .05 .025 .01 .005 42 .850 1.302 1.682 2.018 2.418 2.698 43 .850 1.302 1.681 2.017 2.416 2.695 44 .850 1.301 1.680 2.015 2.414 2.692 45 .850 1.301 1.679 2.014 2.412 2.690