The following sample of seven randomly selected stock prices were observed for a large corporation. Assume...
The following sample of seven randomly selected stock prices were observed for a large corporation. Assume the population is normally distributed.
31,35,19,20,23,27,25
What is the value of the margin of error for 95% confidence interval estimate of the average stock prices?
A)1.96
B)2.65
C)5.36
D)25
E)25.7
Homework Answers
Solution
Given that
The sample mean is 
Mean
= (
x
/ n) )
=31+35+19+20+23+27+25 /7
=180/7
=25.7143
Mean
= 25.7
The average stock prices is 25.7
Option E ) is correct.
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