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USETHE INFORMATION BELOW TO ANSWER QUESTIONS 31 THRU 33 An Internet based e-learning company has begun using new online statistics content to replace a textbook.
USETHE INFORMATION BELOW TO ANSWER QUESTIONS 31 THRU 33 An Internet based e-learning company has begun using new online statistics content to replace a textbook. Since the main competition is hardback textbooks, before the company decides what price to charge students tor the new product. it wants to know the average price of all hardback statistics textbooks currently on the market. The research department at this erlearningcompany took a random sample of 20 such textbooks and collected information on their prices. The data could then be used to compute a condence interval for the true mean price of hard back statistics textbooks. Assume the population of these textbook prices is normally distributed. Question 31 1 pts Choose the formula that should be used to calculate a condence interval for the true mean price of hardback statistics textbooks. 0 Can't answcrlhls question based on the information given Question 32 1 pts For a 98% condence interval pick the appropriate 2 ort value thatwould be used. o 1.96 o 1.33 o 2.05 o 2.54 Question 33 1 pts If we have a data set where the smallest price is $75.40 and the largest price is $145.90, what is an acceptable estimate forthe value of the sample standard deviation ofthe prices in the sample? 0 36.50 0 $20.25 0 $26.50 0 $11.75
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