How to solve this confidence interval? Use the confidence interval to find the estimated margin of error. Then find the sample mean. A store manager says a confidence interval of (44.07, 80.97) when estimating the mean price (in dollars) for the population of textbooks.

ossidianaZ 2020-10-18 Answered
How to solve this confidence interval? Use the confidence interval to find the estimated margin of error. Then find the sample mean. A store manager says a confidence interval of (44.07, 80.97) when estimating the mean price (in dollars) for the population of textbooks.
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crocolylec
Answered 2020-10-19 Author has 100 answers
Given a confidence interval (44.07, 80.97)
As confidence interval is x=±E,(x+E)(xE)=2E where x is mean price of sample of textbooks and E is margin of error.
Thus, E=80.9744.072=18.45
Now, xE=44.07
Hence, x=44.07+18.45=65.52 is mean price of sample textbooks
Answer: E=18.45
x=62.52
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