A publishing company has just published a new college textbook. Before the company decidesthe price at which to sell this textbook, it wants to know the average price of all such textbooks inthe market. The research department at the company took a sample of 45 comparable textbooksand collected information on their prices. This information produces a mean price of $140 forthis sample. It is known that the standard deviation of the prices of all such textbooks is $28 andthe population of such prices is normal. What is the point estimate of the mean price of all suchtextbooks? Construct a 90% confidence interval for the mean price of all such college textbooks.
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