An auditor, examining a total of 820 accounts receivable of a corporation, took a random sample of 60 of them. The sample mean was $127.43, and the sample standard deviation was $43.27.a. Using an unbiased estimation procedure, find an estimate of the population mean.b. Using an unbiased estimation procedure, find an estimate of the variance of the sample mean.c. Find a 90% confidence interval for the population mean.d. A statistician found, for the population mean, a confidence interval running from $117.43 to $137.43. What is the probability content of this interval?e. Find a 95% confidence interval for the total amount of these 820 accounts.
An auditor, examining a total of 820 accounts receivable of a corporation, took a random sample of 60 of them. The sample mean was $127.43, and the sample standard deviation was $43.27.a. Using an unbiased estimation procedure, find an estimate of the population mean.b. Using an unbiased estimation procedure, find an estimate of the variance of the sample mean.c. Find a 90% confidence interval for the population mean.d. A statistician found, for the population mean, a confidence interval running from $117.43 to $137.43. What is the probability content of this interval?e. Find a 95% confidence interval for the total amount of these 820 accounts.
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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An auditor, examining a total of 820 accounts receivable of a corporation, took a random sample of 60 of them. The sample
a. Using an unbiased estimation procedure, find an estimate of the population mean.
b. Using an unbiased estimation procedure, find an estimate of the variance of the sample mean.
c. Find a 90% confidence interval for the population mean.
d. A statistician found, for the population mean, a confidence interval running from $117.43 to $137.43. What is the probability content of this interval?
e. Find a 95% confidence interval for the total amount of these 820 accounts.
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