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According to a research institution, the average hotel price in a certain year was $98.53. Assume the population standard deviation is $18.00 and that a
According to a research institution, the average hotel price in a certain year was $98.53. Assume the population standard deviation is $18.00 and that a random sample of 45 hotels was selected. Complete parts a through d below. a. Calculate the standard error of the mean. o- = $ (Round to two decimal places as needed.) b. What is the probability that the sample mean will be less than $100? P (x $102) = (Round to four decimal places as needed.) d. What is the probability that the sample mean will be between $97 and $99? P ($97 =x = $99) = (Round to four decimal places as needed.)
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