A marketing manager for a laptop company wants to know the average laptop price that an MBA degree

student owns and whether these students are willing to pay extra for premium branded speakers. The
marketing analyst has collected data of 40 randomly selected MBA students. Use the data below to find 99%
confidence level estimates for mean laptop price and proportion of students willing to pay extra for
premium speakers.

Student number Price of current laptop

1 65531
2 39940
3 74595
4 57625
5 85432
6 71319
7 50693
8 63600
9 41628
10 61631
11 68799
12 64670
13 70627
14 58463
15 79414
16 52939
17 32481
18 48688
19 51517
20 38416
21 65645
22 65692
23 48736
24 62643
25 55137
26 45342
27 52409
28 33054
29 41506
30 61464
31 45314
32 33278
33 35205
34 56716
35 85895
36 64079
37 86927
38 63130
39 57280
40 74891
pany wants to know the average laptop price that an MBA degree
ents are willing to pay extra for premium branded speakers. The
0 randomly selected MBA students. Use the data below to find 99%
laptop price and proportion of students willing to pay extra for
premium speakers.

Preference for premium branded speakers Sample Size

Yes
No Mean Price
Yes
Yes Sample Standard Deviation
Yes
Yes Std. dev. Of Sample means
Yes
Yes
Yes
Yes Confidence level
Yes Alpha
No Degrees of freedom
Yes
Yes t value
No
Yes Lower boundary
No
No Upper Boundary
No
No
No Sample proportion
Yes
Yes Std. dev of proportion
No
Yes
No
No Confidence interval
Yes
Yes Z-value
Yes
Yes Lower boundary
No
Yes Upper boundary
Yes
Yes
No Results
Yes
Yes
No
Yes
 40

57808.78

14771.48

2335.576

99%
0.01
39

2.707913

51484.24

64133.31

0.65

0.075416

0.99

2.575829

0.455743

0.844257

We are 99% sure that mean price of laptop for MBA student lies between 51484 and 64133
We are 99% sure that the proportion of students who prefer premium speakers lies between 45.5% and 84.4%
.5% and 84.4%