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A sample of 15 manufacturers of electronics components reported an average of $20.3 million in backlogged orders, with a standard deviation of $6.45 million. Assume
A sample of 15 manufacturers of electronics components reported an average of $20.3 million in backlogged orders, with a standard deviation of $6.45 million. Assume that backlog is approximately normally distributed. Generate a 95% confidence interval (or interval estimate) on mean backlog for the entire electronics component manufacturing industry, consisting of 2,550 companies.
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