Assume that all variable are approximately normally distributed.
Costs for a 30Second Spot on Cable Television The approximate costs for a 30second spot for various cable networks in a random selection of cities are shown below. Estimate the true population mean cost for a 30 second advertisement on cable network with 90% confidence. 32.0<μ<71. Assumenormal distribution.
14 
55 
165 
9 
15 
66 
23 
30 
150 
22 
12 
13 
54 
73 
55 
41 
78 

Source: www.spotrunner.com
Solution:
Step 1 of 2:
The given data is
X 
14 
55 
165 
9 
15 
66 
23 
30 
150 
22 
12 
13 
54 
73 
55 
41 
78 
= 875 
We have to estimate the true population mean cost of a 30 second advertisement on cable network with 90% confidence.