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Question 19 A tour guide company is trying to decide if it is going to increase...

Question 19 A tour guide company is trying to decide if it is going to increase the cost of its tours to cover its sunk costs. They find that the average sunk cost per tour is $58, with a standard deviation of $18. If they take a random sample of 36 tours, identify each of the following to help them make their decision and round to the nearest hundredth if necessary:

µ =

σ =

n =

μx =

σx =

math   Statistics-And-Probability   
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Answer #1

The required values are as follows:

µ = 58

σ = 18

n = 36

μx = 58

σx = 18/sqrt(36) = 3

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