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A sample of the various prices for a particular product has been conducted in 16 stores which were selected at random in a city. The

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A sample of the various prices for a particular product has been conducted in 16 stores which were selected at random in a city. The following prices were noted, in GBP. The prices of the product in pounds sterling are given in the table below. 95 108 97 112 99 106 105 100 99 98 104 110 107 111 103 110 (a) Calculate a 95% confidence interval to estimate the actual mean price of the product in the city. (State this interval accurate to 1 decimal place) Low Limit = High Limit = (6 marks) (b) Is it reasonable to assume that the average price for this product is E100? State your reason for this (2 marks) (c) What size sample would need to be taken to estimate the population mean price within 1 pound? Sample size , n= (2 marks)

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