Answered step by step
Verified Expert Solution
Question
1 Approved Answer
When a certain machine breaks down, the repair time Y (in minutes) can be modeled by a gamma distribution with parameters = 1 and
When a certain machine breaks down, the repair time Y (in minutes) can be modeled by a gamma distribution with parameters = 1 and = 60. Of interest is the mean repair time (sample mean) of a sample of n=100 breakdowns. a) Find the expected value and the variance of the sample mean . b) What is the probability distribution that provides the best model of the sampling distribution of the sample mean Y? Why? c) What is the probability that the sample mean does not exceed 55 minutes? d) How large should the sample size n be if one wants the standard error not to exceed 2?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started