Solve the problem.A consumer product magazine recently ran a…

Solve the problem.A consumer product magazine recently ran a story concerning the increasing prices of digital cameras. The story stated that digital camera prices dipped a couple of years ago, but now are beginning to increase in price because of added features. According to the story, the average price of all digital cameras a couple of years ago was $215.00. A random sample of cameras was recently taken and entered into a spreadsheet. It was desired to test to determine if that average price of all digital cameras is now more than $215.00. The information was entered into a spreadsheet and the following printout was obtained:One-Sample T TestNull Hypothesis: μ = 215Alternative Hyp: μ > 215​95% Conf IntervalVariable Mean SE Lower Upper T DF PCamera Price 245.23 15.620 212.740 277.720 1.94 21 0.0333Is a sample size n = 22 large enough to utilize the central limit theorem in this inferential procedure?

Solve the problem.Suppose it is desired to estimate the aver…

Solve the problem.Suppose it is desired to estimate the average time a customer spends in a particular store to within 5 minutes (e.g., + 5 minutes) at 99% reliability. It is estimated that the standard deviation of the times is 15 minutes. How large a sample should be taken to get the desired interval?