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,a 95% confidence interval for the mean number of rooms rented daily in a given month is narrower than a 99% confidence interval.

Question

Quizplus · Accepted Answer

As the confidence level increases, the margin of error also increases, leading to a wider interval. Therefore, a 95% confidence interval will be narrower than a 99% confidence interval.

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