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The overall mean completion time for 100 replications of a service procedure is 6.6 hours, with a standard deviation of 2.3 hours. The replication completion
- The overall mean completion time for 100 replications of a service procedure is 6.6 hours, with a standard deviation of 2.3 hours. The replication completion times are normally distributed.
- Calculate the 95% confidence interval for the long-run expected average completion time. (10 points)
- Calculate the 95% prediction interval for the average completion time on any particular day. (10 points)
- Explain the observed difference between the confidence interval and prediction interval. (10 points)
- Suppose we were to increase the number of replications to 500 and the mean completion time and standard deviation remained the same.
- Calculate the 95% confidence interval for the long-run expected average completion time. (10 points)
- Explain the observed difference between the confidence intervals for parts 1.a and 1.d.i. (5 points)
- Discuss the limit for the confidence interval if we were to continue to increase the number of replications. (5 points)
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