question archive The monthly closing stock prices (rounded to the nearest dollar) for Panera Bread Co

The monthly closing stock prices (rounded to the nearest dollar) for Panera Bread Co

Subject:ManagementPrice: Bought3

The monthly closing stock prices (rounded to the nearest dollar) for Panera Bread Co. for the first six months of 2010 are reported in the following table.

Month

Closing stock price

January 2010

$71

February 2010

73

March 2010

76

April 2010

78

May 2010

81

June 2010

75

 

a. Calculate the sample mean and the sample standard deviation.

b. Compute the 90% confidence interval of the mean stock price of Panera Bread Co., assuming that the stock price is normally distributed.

c. What happens to the margin of error if a higher confidence level is used for the interval estimate?

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