Question

According to USA Today, customers are not settling for automobiles straight off the production lines. As an example, those who purchase a $355,000 Rolls-Royce typically add $25,000 in accessories. One of the affordable automobiles to receive additions is BMW's Mini Cooper. A sample of 179 recent Mini purchasers yielded a sample mean of $5,000 above the $20,200 base sticker price. Suppose the cost of accessories purchased for all Mini Coopers has a standard deviation of $1,500.

Determine the margin of error in estimating the average cost of accessories on Mini Coopers.

A) 219.75

B) 214.41

C) 231.14

D) 291.11

Answer

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