QUESTION 2A hardware store determined the current balances for a random sample of 100 customers with non-zero balances. The sample mean of the amountowed was $100.00 and the standard deviation was $25. Use the assumption that the sample standard deviation is equal to the population standarddeviation.Determine a 95% confidence interval for the average amount owed. Report the upper limit of the confidence interval.Use 2 decimals for your answer

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Answered: QUESTION 2 A hardware store determined…

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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A mechanic sells a brand of automobile tire that has a life expectancy that is normally distributed, with a mean life of 36,000 miles and a standard deviation of 2100 miles. He wants to give a guarantee for free replacement of tires that don't wear well. How should he word his guarantee if he is willing to replace approximately 10% of the tires? Click to view page 1 of the table. Click to view page 2 of the table. CHE Tires that wear out by miles will be replaced free of charge. (Round to the nearest mile as needed.)
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