Hoping to lure more shoppers downtown, a city builds a new parking garage in the central business district. The city hopes that the parking revenues will pay for the garage.

During a recent two month period (44 days), the city statistician calculated the 95% confidence interval for the mean daily parking fees collected as:

($121, $131)

Using this confidence interval, what is the point estimate for the mean daily parking fees collected?

A) $121
B) $125
C) $126
D) $131
E) $2.86
F) unable to determine with the given information

C?

You're right

2E + 121 = 131

2E + 121-121 = 131 -121

2E = 10

E = 5
Mean + E = 131

Mean +5 -5 =131-5

Mean =$126

You're right

To find the point estimate for the mean daily parking fees collected, we need to find the midpoint, or the average, of the confidence interval.

The confidence interval is given as ($121, $131), which means the lower bound is $121 and the upper bound is $131.

To find the midpoint, we add the lower bound and the upper bound and divide by 2:

($121 + $131) / 2 = $252 / 2 = $126.

Therefore, the point estimate for the mean daily parking fees collected is $126.

So, the correct answer choice is C) $126.