A researcher wishes to estimate the number of days it takes an automobile dealer to sell a Ferrari 458. A random sample of 50 cars had a mean time on the dealer’s lot of 54 days. Assume the population...

A researcher wishes to estimate the number of days it takes an automobile dealer to sell a Ferrari 458. A random sample of 50 cars had a mean time on the dealer’s lot of 54 days. Assume the population standard deviation to be 6.0 days.

1. Find the best point estimate of the population mean. ___ DAYS. (Round answer to two decimal places)

2. Find the margin of error for the 95% confidence level. ____ DAYS. (Round answer to two decimal places)

3. Find the 95% confidence interval for the population mean. (Round answer to two decimal places)