Question
A manufacturer collects a sample of 30 bags of flour, measuring their weights in kilograms (kg). The mean weight in the sample is found to
A manufacturer collects a sample of 30 bags of flour, measuring their weights in kilograms (kg). The mean weight in the sample is found to be 1.05 kg with a standard deviation of 0.01 kg.
a) Construct a 99% confidence interval for the population mean weight of bags of flour. WORK TO A MINIMUM OF 3 DECIMAL PLACES. Show brief workings.
b) Interpret your confidence interval.
c) Do NOT create another confidence interval to answer this question.
All else held the same, if the sample size was now 36 bags of flour, how would the width of your confidence interval in part a) change? PLEASE EXPLAIN YOUR ANSWER HERE.
Step by Step Solution
3.41 Rating (160 Votes )
There are 3 Steps involved in it
Step: 1
Step 13 a n 30 x 105 s 001 SE ie SE S 001 30 ie SE 0001826 For a 001 df 30129 from Table critical va...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Finance Applications and Theory
Authors: Marcia Cornett, Troy Adair
3rd edition
1259252221, 007786168X, 9781259252228, 978-0077861681
