Mathematics, 26.03.2020 22:33 7thaohstudent
A lakefront resort 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 resort desires a precision of plus or minus .5 nights. What is the standard error of the mean in the lakefront resort example?
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A lakefront resort is planning for its summer busy season. It wishes to estimate with 95% confidence...
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