Question: An air conditioning contractor is preparing to offer service contracts
An air conditioning contractor is preparing to offer service contracts on the brand of compressor used in all of the units her company installs. Before she can work out the details, she must estimate how long those compressors last, on average. The contractor anticipated this need and has kept detailed records on the lifetimes of a random sample of 250 compressors. She plans to use the sample mean lifetime, x, of those 250 compressors as her estimate for the population mean lifetime, μ, of all such compressors. If the lifetimes of this brand of compressor have a standard deviation of 40 months, what is the probability that the contractor's estimate will be within 5 months of the true mean?
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