Question

Question 2 (1 point)

You are tracking Chipotle Mexican Grill's stock price, attempting to figure out a good price point for entry into the market. You look at 50 random days over the course of a few months and see that the closing price has an average of $261.23 with a standard deviation of $19.35. You construct a 95% confidence interval for the average stock price to be (255.73, 266.73). Of the following choices, what is the appropriate interpretation of this interval?

Question 2 options:

	1) We cannot determine the proper interpretation of this interval.
	2) We are 95% confident the average daily closing price for the days monitored is between $255.73 and $266.73.
	3) We are certain that 95% of the daily closing prices will be between $255.73 and $266.73.
	4) We are 95% confident the average daily closing price for any day is between $255.73 and $266.73
	5) We are 95% confident that the proportion of all days that have a closing price between $255.73 and $266.73 is 95%

Answer 1

Option - 4) We are 95% confident the average daily closing price for any day is between $255.73 and $266.73