Question
The monthly closing stock prices (rounded to the nearest dollar) for Panera Bread Co. for the first six months of 2010 are reported in the
The monthly closing stock prices (rounded to the nearest dollar) for Panera Bread Co. for the first six months of 2010 are reported in the following table. Use Table 2. |
Months | Closing Stock Price |
January 2010 | $71 |
February 2010 | 73 |
March 2010 | 76 |
April 2010 | 78 |
May 2010 | 81 |
June 2010 | 75 |
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SOURCE: http://finance.yahoo.com.
a. | Calculate the sample mean and the sample standard deviation. (Round intermediate calculations to 4 decimal places. Round "Sample mean" and "Sample standard deviation" to 2 decimal places.) |
Sample mean | |
Sample standard deviation | |
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b. | Compute the 90% confidence interval for the mean stock price of Panera Bread Co., assuming that the stock price is normally distributed. (Round "t" value to 3 decimal places, and final answers to 2 decimal places.) |
Confidence interval | to |
c. | What happens to the margin of error if a higher confidence level is used for the interval estimate? | ||||
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