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4. Let us suppose that twenty-five textbooks for 2000-level courses had a mean cost of $124. (a) Report an appropriate 99% confidence interval estimate for the mean cost of all 2000-level textbooks, write out the full procedure taught in this class. Well assume that the prices of all 2000-level textbooks vary with standard deviation $100. (b) Based on your confidence interval, would $180 be a reasonable estimate of the population mean cost? (c) If we used a lower confidence level with the same data, would our margin of error have been smaller or larger? Answer this without doing any calculations. (d) Give a point estimate of the population mean cost.

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