A sample survey of 57 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $33.86. The survey is conducted annually. With the historical data available,...


A sample survey of 57 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $33.86. The survey is conducted annually. With the historical data available, assume a known population st<br>deviation of $13.<br>a. Using the sample data, what is the margin of error associated with a 95% confidence interval (to 2 decimals)?<br>b. Develop a 95% confidence interval for the mean price charged by discount brokers for a trade of 100 shares at $50 per share (to 2 decimals).<br>

Extracted text: A sample survey of 57 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $33.86. The survey is conducted annually. With the historical data available, assume a known population st deviation of $13. a. Using the sample data, what is the margin of error associated with a 95% confidence interval (to 2 decimals)? b. Develop a 95% confidence interval for the mean price charged by discount brokers for a trade of 100 shares at $50 per share (to 2 decimals).

Jun 02, 2022
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