Manhattan College Shool of Business CIS-BUAN BUAN-227-0X Spring 2016 1. Problem 8.2- For a random sample of 36 items and a sample mean of 211, compute a 95% confidence interval for the mean if the population standard deviation is 23. Your Solution should be similar to the Worked-Solution Problems 2. Problem 8.56- What is the average length of a company's policy book? Suppose policy books are sampled from 45 medium-sized companies. The average number of pages in the sample books is 213, and the population standard deviation of 48. Use this information to construct a 98% confidence interval to estimate the mean number of pages for the population of medium-sized company policy books 3. Problem 8.42- A bank officer wants to determine the amount of the average total monthly deposits per customer at the bank. He believes an estimate of this average amount using a confidence interval is sufficient. How large a sample should he take to be within $200 of the actual average with 99% confidence? He assumes the standard deviation of total monthly deposits for all customers is about $1,000 4. Problem 8.16- A random sample of 15 items is taken, producing a sample mean of 2.364 with a sample variance of .81. Assume is normally distributed and construct a 90% confidence interval for the population mean