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] The average cost per night of a hotel room in San Francisco is $550 with...

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Statistics

] The average cost per night of a hotel room in San Francisco is$550 with a standard deviation is $150 based on a sample of 50hotel room rates. a) Clearly state what the random variable in thisproblem is? b) What is an appropriate distribution to be used forfinding the confidence intervals for this problem and why? c)Construct a 99% confidence interval estimate on the mean of allhotel room rates. d) What is the 90% confidence interval estimate?e) What is the 95% confidence interval estimate?

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4.1 Ratings (771 Votes)
a In this context the random variable is the average cost per night of a hotel room in San Franciscob The appropriate distribution will be theNormal distribution this assumption turns    See Answer
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