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A survey of 36 randomly selected iPhone owners showed that the purchase price has a mean of $650 with a sample standard deviation of $24. (Use t Distribution Table & z Distribution Table.) Required: What is the point estimate of the population mean? What is the point estimate of the population standard deviation? What is the standard error of the sample mean? Compute the 95% confidence interval to estimate the population mean. Note: Round your answers to 3 decimal places. How many users need to be sampled to estimate the population mean price with 95% confidence and a $10 margin of error? Note: Round your answer to the next whole number.
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