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We take a sample of 30 consumer ratings of a new product. The sample mean rating is 22 and the variance of the sample ratings
We take a sample of 30 consumer ratings of a new product. The sample mean rating is 22 and the variance of the sample ratings is 4.
a) Find a 95% confidence interval for the population mean ratings.
b) Would it be reasonable for the product manager to believe that the population mean rating is above the minimum standard of 20 rating?
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