A random sample of n 5 15 heat pumps of a certain type yielded the following observations

Question:

A random sample of n 5 15 heat pumps of a certain type yielded the following observations on lifetime (in years):
2.0 1.3 6.0 1.9 5.1 .4 1.0 5.3
15.7 .7 4.8 .9 12.2 5.3 .6
a. Assume that the lifetime is exponential and use an argument parallel to that of Example 7.5 to obtain a 95% CI for expected (true average) lifetime.
b. How should the interval of part (a) be altered to achieve a confidence level of 99%?
c. What is a 95% CI for the standard deviation of the lifetime
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...