Question

An online store sells flower arrangements for birthdays and other special events. In a review of their production costs, the

online store found the mean wholesale cost of one shipment of vases was ĉ = 54 dollars, with a margin of error of 5
dollars.
Construct a confidence interval for the mean cost (in dollars) for one shipment of vases.

Answer 1

Answer: A confidence interval for the mean cost (in dollars) for one shipment of vases = (49,59)

Explanation:

Confidence interval for mean: Mean ± Margin of error

Given: The online store found the mean wholesale cost of one shipment of vases was ĉ = 54 dollars, with a margin of error of 5 dollars.

A confidence interval for the mean cost (in dollars) for one shipment of vases

`=(54-5, 54+5)\\\\=(49,59)`

Hence, a confidence interval for the mean cost (in dollars) for one shipment of vases = (49,59)