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

question 92

True/False

TABLE 8-7
A hotel chain wants to estimate the mean number of rooms rented daily in a given month. The population of rooms rented daily is assumed to be normally distributed for each month with a standard deviation of 24 rooms. During February, a sample of 25 days has a sample mean of 37 rooms.
-Referring to Table 8-7, a 95% confidence interval for the mean number of rooms rented daily in a given month is narrower than a 99% confidence interval.

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Definitions:

Set of Data

A collection of related values, measurements, or observations.

Mean

An arithmetic mean, found by adding all the values in a series and then dividing by the quantity of values in that series.

Frequency Distribution

This is a tabulation of the occurrences of each unique value in a dataset, often visualized in histograms or bar charts.

Mean

The average of a set of numbers, calculated by adding them together and then dividing by the number of values.