Mathematics, 01.02.2021 21:10, tedrayoung1

A beachfront hotel is planning for its summer busy season. It wishes to estimate with 95% confidence the average number of nights each guest will stay in a single visit. Using a sample of guests who stayed last year, the average number of nights per guest is calculated at 5 nights. The standard deviation of the sample is 1.5 nights. The size of the sample used is 120 guests and the beachfront hotel desires a precision of plus or minus 0.5 nights. Required:
a. What is the standard error of the mean in the lakefront resort example?
b. Within what range below can the resort expect with 95% confidence for the true population mean to fall?

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A beachfront hotel is planning for its summer busy season. It wishes to estimate with 95% confidence...