Payment times of 100 randomly selected customers this month had an average of 35 days. The standard
Question:
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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Related Book For
Managing Controlling and Improving Quality
ISBN: 978-0471697916
1st edition
Authors: Douglas C. Montgomery, Cheryl L. Jennings, Michele E. Pfund
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