A manufacturer of a brand of designer jeans has pitched her advertising to develop an expensive image, with a suggested retail price of $75. She is worried that retailers are undermining her image by discounting the price of her jeans.
She wants to estimate of the mean selling price of ALL retailers (using a 95% confidence interval). She randomly samples the price of her jeans being sold by 15 different retailers:
65 75 69 59 54 70 69 75 59 63 70 79 57 64 69