Problem 2
A random sample of 41 business days, from 2016 through 2017, ofthe closing price of Apple stock is conducted. The sample producesan average closing price of $116.16 with a standard deviation of$10.27.
- Verify the requirements for the confidence interval.
- For a 95% confidence interval, find the margin of error for thetrue average closing price of Apple stock from 2016 through2017.
- Interpret a 95% confidence interval for the true averageclosing price of Apple stock from 2016 through 2017.
- Respond to the statement that the true average closing price ofApple stock from 2016 through 2017 was less than $125 . Make yourresponse understandable to someone not in the class
