Question
Suppose a bill is considered late if it is paid after 20 days. In this case its lateness is the number of days over 20.
Suppose a bill is considered late if it is paid after 20 days. In this case its “lateness” is the number of days over 20. For example, a bill paid 23 days after billing has a lateness of 3, whereas a bill paid 18 days after billing has a lateness of 0.
Find a 95% confidence interval for the mean amount of lateness for all customers. Find similar confidence intervals for each customer size separately. Why is the distribution of lateness certainly not normal? Do you think this matters for the validity of the confidence interval?
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Find a 95 confidence interval for the mean amount of lat eness for all customers ANS WER 0 693 days WORK NG We can use the Central Limit The orem to f...Get Instant Access to Expert-Tailored Solutions
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Mathematical Applications for the Management Life and Social Sciences
Authors: Ronald J. Harshbarger, James J. Reynolds
11th edition
9781337032247, 9781305465183, 1305108043, 1337032247, 1305465180, 978-1305108042
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