A hotel chain wants to estimate the average number of roomsrented daily in each month. The population of rooms rented daily isassumed to be normally distributed for each month with a standarddeviation of 24 rooms.
During January, a sample of 16 days has a sample mean of 48 rooms.This information is used to calculate an interval estimate for thepopulation mean to be from 40 to 56 rooms. What is the level ofconfidence of this interval? Report the level of confidence as apercentage and use 2 decimal places.
