In a recent audit report, an accounting company manager is interested in estimating the mean sale per Customer for the client. A simple random sample of 16 customers yielded a sample mean of sale of $14.20. Suppose that the sample variance of sale for all customers was $ 26.01. Construct a 90 % confidence
Q1: In a recent audit report, an accounting company manager is interested in estimating the
mean sale per Customer for the client. A simple random sample of 16 customers yielded
a sample mean of sale of $14.20. Suppose that the sample variance of sale for all customers was
$ 26.01. Construct a 90 % confidence interval for the average sale per customer. Then determine
the standard error.
Q2: A random sample of 300 articles shows that 233 of the articles have the characteristic of interest.
a. What is the point estimate for the population proportion for all articles having this
characteristic?
b. Use the information from the random sample to construct a 95 % confidence
estimate
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