Consider the situation of Case Study 5.1 with a larger sample of metal pieces. The diameters are
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Consider the situation of Case Study 5.1 with a larger sample of metal pieces. The diameters are as follows: 1.01, 0.97, 1.03, 1.04, 0.99, 0.98, 1.01, 1.03, 0.99, 1.00, 1.00, 0.99, 0.98, 1.01, 1.02, 0.99 centimeters. Once again the normality assumption may be made. Do the following and compare your results to those of the case study. Discuss how they are different and why.
(a) Compute a 99% confidence interval on the mean diameter.
(b) Compute a 99% prediction interval on the next diameter to be measured.
(c) Compute a 99% tolerance interval for coverage of the central 95% of the distribution of diameters.
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...
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Essentials Of Probability And Statistics For Engineers And Scientists
ISBN: 9780321783738
1st Edition
Authors: Ronald E. Walpole, Raymond Myers, Sharon L. Myers, Keying E. Ye
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