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Advertising The Brite Light Company wishes to include the average lifetime of its light bulbs in its advertising. One hundred light bulbs are randomly selected and illuminated. The time for each bulb to burn out is recorded. From this sample, the average life is 350 hours with a standard deviation of 45 hours.
a. Find the standard error of the mean.
b. Determine the interval about the sample mean that has a 1% level of confidence.
c. If you want to avoid false advertising charges, what number would you use as the average lifetime of the bulbs? Explain.
In this Assignment you will assess the feasibility of Apex investing in a new project for expansion of its business. The specifications of the project are as follows:
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