Question: An accountant wants to estimate the average amount of an
An accountant wants to estimate the average amount of an account of a service company. A random sample of 46 accounts yields x-bar = $16.50 and s = $2.20. Give a 95% confidence interval for the average amount of an account.
Answer to relevant QuestionsAn art dealer wants to estimate the average value of works of art of a certain period and type. A random sample of 20 works of art is appraised. The sample mean is found to be $5,139 and the sample standard deviation $640. ...The data on the daily consumption of fuel by a delivery truck, in gallons, recorded during 25 randomly selected working days, are as follows: 9.7, 8.9, 9.7, 10.9, 10.3, 10.1, 10.7, 10.6, 10.4, 10.6, 11.6, 11.7, 9.7, 9.7, ...According to BusinessWeek, many Japanese consider their cell phones toys rather than tools. If a random sample of 200 Japanese cell phone owners reveals that 80 of them consider their device a toy, calculate a 90% confidence ...According to the Wall Street Journal, the rising popularity of hedge funds and similar investment instruments has made splitting assets in cases of divorce much more difficult. If a random sample of 250 divorcing couples ...What is the required sample size for determining the proportion of defective items in a production process if the proportion is to be known to within 0.05 with 90% confidence? No guess as to the value of the population ...
Post your question