TABLE 8-7 a Hotel Chain Wants to Estimate the Average Number of Number

Short Answer

TABLE 8-7
A hotel chain wants to estimate the average number of rooms rented daily in each month. The population of rooms rented daily is assumed to be normally distributed for each month with a standard deviation of 24 rooms.
-Referring to Table 8-7, during January, a sample of 16 days has a sample mean of 48 rooms. This information is used to calculate an interval estimate for the population mean to be from 40 to 56 rooms. What is the level of confidence of this interval?