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Fundamentals of Statistics | 4th Edition | ISBN: 9780321838704 | Authors: Michael Sullivan,III
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4 GB Flash Memory Card After scanning the UPC code of a 4

Chapter 5, Problem 35AYU

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QUESTION:

Problem 35AYU

4 GB Flash Memory Card After scanning the UPC code of a 4 GB flash memory card using his smartphone, Michael Sullivan received the following prices for the goods at a variety of online retailers. Treat these data as a simple random sample of all online retailers.

12.25

13.49

13.76

14.75

14.99

14.99

15.27

15.95

17.88

20.49

Source: ScanLife

(a) Determine a point estimate for the population mean price of the memory card.

(b) Use the normal probability plot and boxplot shown next to assist in verifying the requirements for constructing a confidence interval for the mean price.

(c) Construct and interpret a 95% confidence interval to estimate the mean price of a 4 GB flash memory card.

(d) Construct and interpret a 99% confidence interval to estimate the mean price of a 4 GB flash memory card.

(e) What happens to the interval as the level of confidence is increased? Explain why this is a logical result.

Questions & Answers

QUESTION:

Problem 35AYU

4 GB Flash Memory Card After scanning the UPC code of a 4 GB flash memory card using his smartphone, Michael Sullivan received the following prices for the goods at a variety of online retailers. Treat these data as a simple random sample of all online retailers.

12.25

13.49

13.76

14.75

14.99

14.99

15.27

15.95

17.88

20.49

Source: ScanLife

(a) Determine a point estimate for the population mean price of the memory card.

(b) Use the normal probability plot and boxplot shown next to assist in verifying the requirements for constructing a confidence interval for the mean price.

(c) Construct and interpret a 95% confidence interval to estimate the mean price of a 4 GB flash memory card.

(d) Construct and interpret a 99% confidence interval to estimate the mean price of a 4 GB flash memory card.

(e) What happens to the interval as the level of confidence is increased? Explain why this is a logical result.

ANSWER:

Answer :

Step 1 :

Given,

a)

After scanning the UPC code of 4GB flash memory card using his smartphone. Michael Sullivan received the following prices for the goods at a variety of online retailers.

12.25

13.49

13.76

14.75

14.99

14.99

15.27

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