Question

Question 2: Interval Estimation for the Population Mean (µ)             
It is assumed that the distribution of parking fees (X) in downtown Youngstown is normal or bell-shaped. One of the public parking lots recorded the following data from eight customers during a given day.

10

8

12

15

13

11

6

5

Notes: 1.     2. Standard error of  = S   3. ME =  (S )   
Use the above information to answerer these questions.
1. In the context of this problem, μ denotes ………………………………………..............   

2. From the sample data, the point estimate of the unknown value of µ is ..............                

3. The sample standard deviation from the above data is $3.5.   
a. The standard error of the sample mean is ….............                                                                    

b. The 95% margin of error (ME) is ……................                                                                           

c. For the 95% confidence interval estimate                                                                  
    c-1 the lower limit (LL) is .............................................................          
  c-2 the upper limit (UL) is ..............................................................                                                           
  c-3 the interval estimate is ..........................................................  

Answer 1