A random sample of five orders was selected from a year of trading, carried out by a kitchen installation company. The lead times of these orders were as follows (days): 51 45 73 48 55 (a)Construct a 95% confidence interval for the population mean. (b)Explain carefully what the confidence interval tells us. (c) If we used these same data to construct a 99% confidence interval, would the interval be wider or narrower than the 95% confidence interval? Explain.
A random sample of five orders was selected from a year of trading, carried out by a kitchen installation company. The lead times of these orders were as follows (days): 51 45 73 48 55 (a)Construct a 95% confidence interval for the population mean. (b)Explain carefully what the confidence interval tells us. (c) If we used these same data to construct a 99% confidence interval, would the interval be wider or narrower than the 95% confidence interval? Explain.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 8SGR
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A random sample of five orders was selected from a year of trading, carried out by a kitchen installation company. The lead times of these orders were as follows (days):
51 45 73 48 55
(a)Construct a 95% confidence interval for the population mean.
(b)Explain carefully what the confidence interval tells us.
(c) If we used these same data to construct a 99% confidence interval, would the interval be wider or narrower than the 95% confidence interval? Explain.
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