1.Because of staffing decisions, managers of the Gibson-Marimont Hotel are interested inthe variability in the number of rooms occupied per day during a particular season of theyear. A sample of 20...

1.Because of staffing decisions, managers of the Gibson-Marimont Hotel are interested inthe variability in the number of rooms occupied per day during a particular season of theyear. A sample of 20 days of operation shows a sample mean of 290 rooms occupied perday and a sample standard deviation of 30 rooms.a. What is the point estimate of the population variance?b. Provide a 90% confidence interval estimate of the population variance.c. Provide a 90% confidence interval estimate of the population standard deviation.2. Initial public offerings (IPOs) of stocks are on average underpriced. The standard deviationmeasures the dispersion, or variation, in the underpricing-overpricing indicator. Asample of 13 Canadian IPOs that were subsequently traded on the Toronto Stock Exchange had a standard deviation of 14.95. Develop a 95% confidence interval estimate of thepopulation standard deviation for the underpricing-overpricing indicator.