Bob Nale is the owner of Nale's Texaco GasTown. Bob would like to estimate the mean number of litres (L) of gasoline sold to his customers. Assume the number of litres sold follows the normal distribution with a standard deviation of 8 L From his records, he selects a random sample of 13 sales and finds the mean number of litres sold is 41. a. What is the point estimate of the population mean? (Round the final answer to the nearest whole number.) The point estimate of the population mean is litres. b. Develop a 95% confidence interval for the population mean, (Round the final answers to 3 decimal places.) The 95% confidence interval for the population mean is between 36.651) and 45349). c. Interpret the meaning of part (b). If 100 such intervals were determined, the population mean would be included in about Jintervals.
Bob Nale is the owner of Nale's Texaco GasTown. Bob would like to estimate the mean number of litres (L) of gasoline sold to his customers. Assume the number of litres sold follows the normal distribution with a standard deviation of 8 L From his records, he selects a random sample of 13 sales and finds the mean number of litres sold is 41. a. What is the point estimate of the population mean? (Round the final answer to the nearest whole number.) The point estimate of the population mean is litres. b. Develop a 95% confidence interval for the population mean, (Round the final answers to 3 decimal places.) The 95% confidence interval for the population mean is between 36.651) and 45349). c. Interpret the meaning of part (b). If 100 such intervals were determined, the population mean would be included in about Jintervals.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:Bob Nale is the owner of Nale's Texaco GasTown. Bob would like to estimate the mean number of litres (L) of gasoline sold to his
customers. Assume the number of litres sold follows the normal distribution with a standard deviation of 8 L From his records, he
selects a random sample of 13 sales and finds the mean number of litres sold is 41.
a. What is the point estimate of the population mean? (Round the final answer to the nearest whole number.)
The point estimate of the population mean is
litres.
b. Develop a 95% confidence interval for the population mean, (Round the final answers to 3 decimal places.)
The 95% confidence interval for the population mean is between
36.651 and 45349).
c. Interpret the meaning of part (b).
If 100 such intervals were determined, the population mean
would be Included in about
Jintervals.
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