# Question

A management consulting agency needs to estimate the average number of years of experience of executives in a given branch of management. A random sample of 28 executives gives x-bar = 6.7 years and s = 2.4 years. Give a 99% confidence interval for the average number of years of experience for all executives in this branch.

## Answer to relevant Questions

The Food and Drug Administration (FDA) needs to estimate the average content of an additive in a given food product. A random sample of 75 portions of the product gives x-bar = 8.9 units and s = 0.5 unit. Give a 95% ...Refer to the Darvas Box trading model of problem 6-38. The average profit was 11.46%. If the sample standard deviation was 8.2%, give a 90% confidence interval for average profit using this trading system. In problem ...According to Fortune, solar power now accounts for only 1% of total energy produced. If this number was obtained based on a random sample of 8,000 electricity users, give a 95% confidence interval for the proportion of users ...The service time in queues should not have a large variance; otherwise, the queue tends to build up. A bank regularly checks service time by its tellers to determine its variance. A random sample of 22 service times (in ...How many test runs of the new Volvo S40 model are required for determining its average miles-per-gallon rating on the highway to within 2 miles per gallon with 95% confidence, if a guess is that the variance of the ...Post your question

0