Question

The monthly closing stock prices (rounded to the nearest dollar) for Panera Bread Co. for the...

The monthly closing stock prices (rounded to the nearest dollar) for Panera Bread Co. for the first six months of 2010 are reported in the following table. [You may find it useful to reference the t table.]
  

Months Closing Stock Price
January 145
February 144
March 149
April 146
May 150
June 140

Source: http://finance.yahoo.com.
  

a. Calculate the sample mean and the sample standard deviation. (Round intermediate calculations to at least 4 decimal places and "Sample mean" and "Sample standard deviation" to 2 decimal places.)



b. Calculate the 90% confidence interval for the mean stock price of Panera Bread Co., assuming that the stock price is normally distributed. (Round "t" value to 3 decimal places and final answers to 2 decimal places.)   



c. What happens to the margin of error if a higher confidence level is used for the interval estimate?


  • The margin of error decreases as the confidence level increases.

  • The margin of error increases as the confidence level increases.

Homework Answers

Answer #1

(c) Ans :

  • The margin of error increases as the confidence level increases.

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