Minneapolis and New Orleans
Not what you're looking for?
What is the difference in the average daily hotel room rates between Minneapolis and New Orleans? Suppose we want to estimate this difference by taking hotel rate samples from each city and using a 98% confidence level. The data for such a study follows.
Use this data to produce an interval estimate and also a point estimate for the mean difference in the hotel rates for the two cities. Assume the population variances are approximately equal and hotel rates in any given city is normally distributed.
MINNEAPOLIS---NEW ORLEANS
nm = 22--------nno = 20
Xm = $112------Xno = $122
Sm = $11-------Sno = $12
Purchase this Solution
Solution Summary
The solution discusses the difference in the average daily hotel room rates between Minneapolis and New Orleans? Suppose we want to estimate this difference by taking hotel rate samples from each city and using a 98% confidence level. The data for such a study follows.
Use this data to produce an interval estimate and also a point estimate for the mean difference in the hotel rates for the two cities. Assume the population variances are approximately equal and hotel rates in any given city is normally distributed.
MINNEAPOLIS---NEW ORLEANS
nm = 22--------nno = 20
Xm = $112------Xno = $122
Sm = $11-------Sno = $12
Solution Preview
Since both are normal distribution, the mean difference should also be a normal distribution.
Let's find the normal distribution of the mean difference:
Following the general formula for a confidence interval, the formula for a confidence interval on the difference between means is Md+-t*Smd
where ...
Purchase this Solution
Free BrainMass Quizzes
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.