Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 04 Feb 2018 My Price 4.00

Economics and Finance

Economics and Finance Along with gold and silver, platinum is also considered a precious metal and is traded on the commodities market. A random sample of the price of platinum (in dollars per troy ounce) was obtained from jewelers around the world. The resulting summary statistics were  = 664.50, σ = 5.25, and n = 55. Assume the underlying distribution of the price is normal.

a. Find a 95% confidence interval for the current true mean price per troy ounce of platinum.

b. One month ago, a brokerage firm reported the true mean price of platinum to be $660.79 per troy ounce, with a recommendation to buy. Is there any evidence to suggest the true mean price has increased? Justify your answer.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Feb 2018 10:02 PM My Price 4.00

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