# Question

An auditor, examining a total of 820 accounts receivable of a corporation, took a random sample of 60 of them. The sample mean was $127.43, and the sample standard deviation was $43.27.

a. Using an unbiased estimation procedure, find an estimate of the population mean.

b. Using an unbiased estimation procedure, find an estimate of the variance of the sample mean.

c. Find a 90% confidence interval for the population mean.

d. A statistician found, for the population mean, a confidence interval running from $117.43 to $137.43.

What is the probability content of this interval?

e. Find a 95% confidence interval for the total amount of these 820 accounts.

a. Using an unbiased estimation procedure, find an estimate of the population mean.

b. Using an unbiased estimation procedure, find an estimate of the variance of the sample mean.

c. Find a 90% confidence interval for the population mean.

d. A statistician found, for the population mean, a confidence interval running from $117.43 to $137.43.

What is the probability content of this interval?

e. Find a 95% confidence interval for the total amount of these 820 accounts.

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