In A Study Conducted By A Credit Card Company Corporate Clients Were Surveyed To Determine The Extent To Which Hotel Ro 1 (68.4 KiB) Viewed 19 times
In A Study Conducted By A Credit Card Company Corporate Clients Were Surveyed To Determine The Extent To Which Hotel Ro 2 (26.56 KiB) Viewed 19 times
In a study conducted by a credit card company, corporate clients were surveyed to determine the extent to which hotel room rates quoted by central reservation systems differ from the rates negotiated by the companies. The study found that the mean overcharge by hotels was $11.29 per night. Suppose a follow-up study was done in which a random sample of 30 corporate hotel bookings was analyzed. Only those cases in which an error occurred were included in the study. The accompanying data show the amounts by which the quoted rate differs from the negotiated rate. Positive values indicate an overcharge and negative values indicate an undercharge. Complete parts a and b below. 6 Click the icon to view the charge difference data. a. Compute a 95% confidence interval estimate for the mean error in hotel charges. Interpret the confidence interval estimate The 95% confidence interval is $ (Round to the nearest cent as needed. Use ascending order.) Interpret the interval. Choose the correct answer below. O A. One can state with 95% confidence that the true population mean error in hotel charges is between these two values. OB. One can state that the true population mean error in hotel charges will fall between these two values 95% of the time. OC. One can state with 95% confidence that the sample mean error in hotel charges is between these two values, OD. There is a 0.95 probability that the true population mean error in hotel charges is between these two values. b. Based on the interval computed in part a, do these sample data tend to support the results of the study? Explain. The interval the $11.29 mean value determined in the study. Therefore, these sample data the study