posted by .

Recently, a price war has developed among retailers selling Brand X denim jeans. A major chain buyer wishes to estimate the mean price of these jeans during this period to compare it to the normal selling price of $20.00. A random sample of 7 major retailers produces a mean retail price of $13.50 with a standard deviation of $3.50. A 80% confidence interval for the true mean retail price of Brand X jeans during the price war is:

(10.93, 16.07)

(11.60, 15.40)

(8.46, 18.54)

(11.81, 15.19)

(10.00, 17.00)

  • Stats -

    CI80 = mean ± 1.28(sd/√n)

    With your data:

    CI80 = 13.50 ± 1.28(3.50/√7)

    I'll let you take it from here to choose your answer.

  • Stats -

    (11.60, 15.40)

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math..percents

    Craig wants to buy some software for his computer. The company that makes the software sells it to a software distributor for $30. The distributor adds 15% to the price and then sells it to the store. The store adds 25% on top of the …
  2. Math

    Bosley's Pet Foods buys dog kibbl for $19.50 per bag, less 40%. The store's overhead is 33 1/3% of the selling price, and the desired profit is 10% of the selling price. (a) At what price per bag should the dog food be sold?
  3. Pre-Cal

    I've been trying to work this problem out for the past week and still havent managed to get to the answer. jeans unlimited sold 6000 pairs of jeans in october at an average of 44$ each. The company president decides that she must increase …
  4. MAth

    I don't know how to begin this one-help Janie bought 2 pairs of identical jeans at a sale.she paid regular price for the 1st pair and paid half price forthe 2nd pair.if the the total cost was $45.00,what was the regular price of the …
  5. algebra

    a store buys jeans for $24 each and marks them up 30%. what is the selling price of a pair of jeans?
  6. MaTH

    I am trying to work this problem and need help. Mary bought 2 pairs of identical jeans at a sale. She paid regular price for the first pair and paid half price for the second pair. If the total cost was $45.00,what was the regular …
  7. Manegerial accounting

    calculate the net operating income , evergreen corp has provided the following data: sales per period 1000 units ,selling price $ 40 per unit , variable manufacturing cost 12 per unit, selling expenses $5,100 pls 5% of selling price …
  8. math

    selling price of computer is $75 less than 2 times wholesale price. selling price of a tv is $550, what equation is used to find wholesale price of tv
  9. math(urgent)

    During a Merdeka Day celebration,a furniture company marked down the price of a queen size bed by 25%,selling it for $1200. At this reduced selling price,they made a markup of 10% on the selling price. a) find the regular price of …
  10. Algebra HELP PLEASE

    A pair of jeans is on sale for 25% off the original price. Which expression represents the sale price?

More Similar Questions