Answer:
a. $1669
Step-by-step explanation:
Price in 1994 = [ (CPI in 1994) / (CPI 1973) ] * (Price in 1973) =
[ 148.2 / 44.4 ] * 500 = 1668.91891892 = $1669 rounded to the nearest dollar.
Answer:
b) The width of the confidence interval becomes narrower when the sample mean increases.
Step-by-step explanation:
The confidence interval can be calculated as:

a) The width of the confidence interval becomes wider as the confidence level increases.
The above statement is true as the confidence level increases the width increases as the absolute value of test statistic increases.
b) The width of the confidence interval becomes narrower when the sample mean increases.
The above statement is false. As the sample mean increases the width of the confidence interval increases.
c) The width of the confidence interval becomes narrower when the sample size n increases.
The above statement is true as the sample size increases the standard error decreases and the confidence interval become narrower.
You need to find a number that all three of those numbers go into. They all go into 60. Then, divide 60 by three because there are three items. 60 divided by 3 is 20, which is the answer.