TABLE 8-7 a Hotel Chain Wants to Estimate the Average Number of Number

question 45

Short Answer

TABLE 8-7
A hotel chain wants to estimate the average number of rooms rented daily in each month. The population of rooms rented daily is assumed to be normally distributed for each month with a standard deviation of 24 rooms.
-Referring to Table 8-7, during January, a sample of 16 days has a sample mean of 48 rooms. This information is used to calculate an interval estimate for the population mean to be from 40 to 56 rooms. What is the level of confidence of this interval?

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Definitions:

Slip of the Tongue

An unintentional error in speech where a word is misused, often revealing a subconscious thought or suppressed feeling.

Freud

Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology.

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The act of devoting time and attention to gaining knowledge on a subject, especially through reading and academic research.

Regression

A statistical method for predicting the value of a dependent variable based on the value(s) of one or more independent variables, or a defense mechanism leading to reversion to an earlier stage of development.