(Solution) - A student in a large lecture section asked students how -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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A student in a large lecture section asked students how much they paid for a used copy of the text. The n = 38 responses yielded
Exi = 3230.84 dollars ?(xi - )2 = 2028.35
(a) Give a point estimate of ?, the mean price paid.
(b) Determine the estimated standard error.
(c) Calculate the 95% error margin.