SCENARIO 8-7 a Hotel Chain Wants to Estimate the Mean

question 173

True/False

SCENARIO 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 240 rooms.During February, a sample of 25 days has a sample mean of 370 rooms.
-Referring to Scenario 8-7, we are 99% confident that the average number of rooms rented daily in a given month is somewhere between 246.36 and 493.64.

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