Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pls post with solutions thank you litres Bob Nale is the owner of Nale's Texaco GasTown Bob would like to estimate the mean number of

pls post with solutions thank you
image text in transcribed
litres Bob Nale is the owner of Nale's Texaco GasTown Bob would like to estimate the mean number of litres (L) of gasoline sold to his customers. Assume the number of litres sold follows the normal distribution with a standard deviation of 8 L. From his records, he selects a random sample of 13 sales and finds the mean number of litres sold is 41 a. What is the point estimate of the population mean? (Round the final answer to the nearest whole number.) The point estimate of the population mean is b. Develop a 95% confidence interval for the population mean (Round the final answers to 3 decimal places.) The 95% confidence interval for the population mean is between 36.651 and 45.349) c. Interpret the meaning of part (b). If 100 such intervals were determined, the population mean would be included in about intervals

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Regulation Of The London Stock Exchange Share Trading, Fraud And Reform 1914-1945

Authors: Chris Swinson

1st Edition

0367887568, 9780367887568

More Books

Students also viewed these Accounting questions