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Two college students gathered data on prices for a random sample of 30 textbooks from the...

Two college students gathered data on prices for a random sample of 30 textbooks from the campus bookstore. They found that the average price was $147.32 and the standard deviation of prices was $57.18. The data they gathered was not strongly skewed.

a) Identify the observational units for this study.

b) Identify the variable being measured on each observational unit and state whether the variable is categorical or quantitative.

c) Identify the parameter of interest in words

d) Use the 2SD approach (not the Theory Based Inference Applet) to construct a 95% confidence interval for the parameter.

e) Interpret your interval from part d)

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