8.89 eBay selling prices For eBay auctions of the Samsung S5 16GB smartphone (unlocked and in new condition), a sample was taken in July 2014 where the Buy It Now prices were (in dollars):

549, 600, 560, 519, 535, 570, 600, 625, 640, 550, 575, 600

a. Explain what a parameter might represent that you could estimate with these data.

b. Find the point estimate of m.

c. Find the standard deviation of the data and the standard error of the sample mean. Interpret each.

d. Find the 95% confidence interval for m. Interpret the interval in context.