A coin-operated coffee machine made by BIG Corporation was designed to discharge a mean of eight ounces of coffee per cup. If it dispenses more than that on average, the corporation may lose money, and if it dispenses less, the customers may complain. BIG Corporation would like to estimate the mean amount of coffee, p, dispensed per cup by this machine. BIG will choose a random sample of cup amounts dispensed by this machine and use this sample to estimate u. Assuming that the standard deviation of cup amounts dispensed by this machine is 0.40 ounces, what is the minimum sample size needed in order for BIG to be 95% confident that its estimate is within 0.07 ounces of u? Carry your intermediate computations to at least three decimal places. Write your answer as a whole number (and make sure that it is the minimum whole number that satisfies the requirements). (If necessary, consult a list of formulas.)

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A coin-operated coffee machine made by BIG Corporation was designed to discharge a mean of eight ounces of coffee per cup. If it dispenses more than that on
average, the corporation may lose money, and if it dispenses less, the customers may complain.
BIG Corporation would like to estimate the mean amount of coffee, p, dispensed per cup by this machine. BIG will choose a random sample of cup amounts
dispensed by this machine and use this sample to estimate p. Assuming that the standard deviation of cup amounts dispensed by this machine is 0.40 ounces,
what is the minimum sample size needed in order for BIG to be 95% confident that its estimate is within 0.07 ounces of u?
Carry your intermediate computations to at least three decimal places. Write your answer as a whole number (and make sure that it is the minimum whole
number that satisfies the requirements).
(If necessary, consult a list of formulas.)
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Transcribed Image Text:A coin-operated coffee machine made by BIG Corporation was designed to discharge a mean of eight ounces of coffee per cup. If it dispenses more than that on average, the corporation may lose money, and if it dispenses less, the customers may complain. BIG Corporation would like to estimate the mean amount of coffee, p, dispensed per cup by this machine. BIG will choose a random sample of cup amounts dispensed by this machine and use this sample to estimate p. Assuming that the standard deviation of cup amounts dispensed by this machine is 0.40 ounces, what is the minimum sample size needed in order for BIG to be 95% confident that its estimate is within 0.07 ounces of u? Carry your intermediate computations to at least three decimal places. Write your answer as a whole number (and make sure that it is the minimum whole number that satisfies the requirements). (If necessary, consult a list of formulas.) Save For Later Submit Assignment Continue Accessibilit O 2021 McGraw-Hill Education. All Rights Reserved. Terms of Use Privacy
From a large number of actuarial exam scores, a random sample of 400 scores is selected, and it is found that 300 of these 400 are passing scores. Based on
this sample, find a 95% confidence interval for the proportion of all scores that are passing. Then find the lower limit and upper limit of the 95% confidence
interval.
Carry your intermediate computations to at least three decimal places. Round your answers to two decimal places. (If necessary, consult a list of formulas.)
Lower limit:|
Upper limit:
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2021 McGraw-Hill Education. All Rights Reserved. Terms of Use
Transcribed Image Text:From a large number of actuarial exam scores, a random sample of 400 scores is selected, and it is found that 300 of these 400 are passing scores. Based on this sample, find a 95% confidence interval for the proportion of all scores that are passing. Then find the lower limit and upper limit of the 95% confidence interval. Carry your intermediate computations to at least three decimal places. Round your answers to two decimal places. (If necessary, consult a list of formulas.) Lower limit:| Upper limit: Save For Later Submit Assic Continue Privacy 2021 McGraw-Hill Education. All Rights Reserved. Terms of Use
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