Suppose a Random Sample of 40 Online Retailers Is Selected

Multiple Choice

Suppose a random sample of 40 online retailers is selected to estimate the average price of a particular item.The average price in the sample is $1.38.Build a 99% confidence interval estimate of the average price of the item for the population of online retailers represented here.Assume the standard deviation of prices for the population of retailers who sell the item is known to be $.22.Report the upper bound for your interval.

A) $1.98
B) $2.35
C) $2.17
D) $1.69
E) $1.47