Asked by Katie
Hoping to lure more shoppers downtown, a city builds a new parking garage in the central business district. The city hopes that the parking revenues will pay for the garage.
During a recent two month period (44 days), the city statistician calculated the 95% confidence interval for the mean daily parking fees collected as:
($121, $131)
Using this confidence interval, what is the point estimate for the mean daily parking fees collected?
A) $121
B) $125
C) $126
D) $131
E) $2.86
F) unable to determine with the given information
C?
During a recent two month period (44 days), the city statistician calculated the 95% confidence interval for the mean daily parking fees collected as:
($121, $131)
Using this confidence interval, what is the point estimate for the mean daily parking fees collected?
A) $121
B) $125
C) $126
D) $131
E) $2.86
F) unable to determine with the given information
C?
Answers
Answered by
Kuai
You're right
2E + 121 = 131
2E + 121-121 = 131 -121
2E = 10
E = 5
Mean + E = 131
Mean +5 -5 =131-5
Mean =$126
You're right
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