Find confidence interval for the sample mean

Assignment Help Basic Statistics
Reference no: EM13141951

An auditor takes a randon sample of size 49 from a population of 1500 accounts receivable. The mean value of the accounts receivable for the population is know (from a previous large survey) to be $3000 with the standard deviation of $400. Find the 99% confidence interval for the sample mean.

Reference no: EM13141951

Questions Cloud

Problem regarding current product mix : At the current product mix, how many bottles of Shiny Coat and Flea-B-Gone must the Doggy Palace sell in a year in order to earn a profit of $25,000? (number of each)
Explain lowest standard deviation of measurements : Lowest standard deviation of measurements, As the Quality Control Manager of a chemical company, you are asked to decide between several process methods that are supposed to uniformly mix 37.4 milligrams into a chemical solution.
What the new pressure will be : A tire has a pressure of 780 mmHg at 27°C. If the tire is heated to 47°C on hot pavement, what the new pressure will be:
What is the equilibrium frequency of hawk : What is the equilibrium frequency of Hawk and Dove in terms of V, C, and r? Assuming the actors are genetically related and how is this relevant to the monogamy hypothesis for the evolution of eusociality?
Find confidence interval for the sample mean : Population is know (from a previous large survey) to be $3000 with the standard deviation of $400. Find the 99% confidence interval for the sample mean.
Using oregon as a model, identify and thoroughly detail : Using Oregon as a model, identify and thoroughly detail the three usual stages of frontier development.
The pressure of a sample of gas at a constant temperature : The pressure of a sample of gas at a constant temperature of 25 degrees C is increased from 1.0 atm to 1.2 atm. If the original volume was 3.8 liters, what will the new volume be?
What is the partial pressure of the dry gas : A sample of gas is collected over water at a temperature of 35.0C when the barometric pressure reading is 707 torr. What is the partial pressure of the dry gas, given PH2O = 42.2 torr?
What accounts are subject to adjusting journal entries : What accounts are subject to adjusting journal entries? What are the advantages and disadvantages of using automated accounting systems to do adjusting entries?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Critical value used to test the claim

A survey covering 0 different suburbs in Dallas found the average price of gasoline to be $3.924 per gallon with a population standard deviation of $0.053. What critical value shoiuld be used to test the claim using a = 0.01?

  Describing central limit theorem

A population is normally distributed, with a mean of 23.45 and a standard deviation of 3.8. What is the probability of each of the following?

  Results in a critical-item failure

What is the probability that at least one of the 40 shuttle missions scheduled over the next 5 years results in a critical-item failure?

  Hamburger probability

Because of a recent incident in which a number of people became ill after eating undercooked hamburger meat, intensive interest has centered around the cooking time for hamburger patties.

  Fraction of the calls last-normal probability distribution

What fraction of the calls last between 4.2 and 5 minutes?

  Highest grade in spoken french-correlation

Describe the following correlation. The students with the highest grades in written French were also the students with the highest grade in spoken French.

  Average price of a sample of low-calorie frozen desserts

The average price of a sample of 12 bottles of diet salad dressing taken from different stores is $1.43. The standard deviation is $0.09. The average price of a sample of 16 low-calorie frozen desserts is $1.03.

  Confidence interval for difference in population mean scores

You are presented a 90% confidence interval for the difference in population mean scores (with drug - without drug) of (-17.81, -7.24). What can you conclude from this interval?

  Finding best decision using decision criteria

Find out best decision, by using following decision criteria.

  Find probability state college hockey games have six goals

Mean of 3 goals per game. Find the probability that each of four randomly selected state college hockey games resulted in 6 goals being scored.

  Probability that there is no accident of particular kind

Suppose that the incident rate of a particulat kind of accient is 1/10,000 persons. In a town of 50,000 persons, what is the probability that there is no accident of this kind?

  Determine the strength and direction of relationship

A typical problem statement is correlation research is _____________

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd