Payment times of 100 randomly selected customers this month had an average of 35 days. The standard

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Payment times of 100 randomly selected customers this month had an average of 35 days. The standard deviation from this group was 2 days.

a. Build a 90% two-sided confidence interval on the mean payment time.

b. Build a 99% two-sided confidence interval on the mean payment time.

c. Is it possible that the average time is 30 days?

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Managing Controlling and Improving Quality

ISBN: 978-0471697916

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Authors: Douglas C. Montgomery, Cheryl L. Jennings, Michele E. Pfund

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Question Posted: Sep 19, 2015 04:38 AM

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Payment times of 100 randomly selected customers this month had an average of 35 days. The standard

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a b c It is highly unlikely that the ...View the full answer

Managing Controlling and Improving Quality

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