On the last day of April, when the high temperature is 56 (Fahrenheit), you want to estimate
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On the last day of April, when the high temperature is 56 (Fahrenheit), you want to estimate the distribution of the high temperature on May 10. To do this, you estimate that the distribution of each day's high temperature is normally distributed with mean equal to the previous day's actual high temperature + 0.25 and standard deviation 3.0. After running a simulation with at least 1000 replications, which of the following best estimates the mean and standard deviation of the distribution of the high temperature on May 10?
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Related Book For
Auditing The Art and Science of Assurance Engagements
ISBN: 978-0133405507
13th Canadian edition
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones
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