16. Parking II. Suppose that, for budget planning
Chapter 23, Problem 16(choose chapter or problem)
16. Parking II. Suppose that, for budget planning purposes,the city in Exercise 14 needs a better estimate of themean daily income from parking fees.a) Someone suggests that the city use its data to create a95% confidence interval instead of the 90% intervalfirst created. How would this interval be better for thecity? (You need not actually create the new interval.)b) How would the 95% interval be worse for the planners?c) How could they achieve an interval estimate thatwould better serve their planning needs?d) How many days worth of data should they collect tohave 95% confidence of estimating the true mean towithin $3?
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