What is probability of finding the mean of a daily sample

Assignment Help Econometrics

Reference no: EM13199356

A truck manufacturer monitors the width of the door seam as vehicles come off its assembly line. the seam width is the distance between the edge of the door and the truck body, in inches. these data are 62 days of measurements of a passenger door seam, with 10 trucks measured each day. it has been claimed that the process has an average width of 0.275 inches with sigma =.01.

A) if the seam widths at this assembly line are normally distributed, then what is the probability of finding a seam wider than 1/2 inch.

B) if the process is under control, what is the probability of finding the mean of a daily sample of 10 widths more than 3 standard errors away from the population average of 0.275?

Reference no: EM13199356

Questions Cloud

What is the value of the property : What would the value of the property be and by what percentage has this value changed as a result of this 100-basis-point change in the required return?

Compute the depletion allowances for years 4 : American Pulp Corp. (APC) has entered into a contract to harvest timber for $450,000. The total estimated available harvest is 150 million board-feet. What is the depletion allowance for years 1 to 3 if 42, 45, and 35 million board-feet are harvest..

What is the deadweight loss due to subsidy : At what prices do U.S. producers sell their cars before and after subsidy is offered. What prices do U.S. consumers feel liked are paying before and after the subsidy is offered (enter your answers in constructed table below).

What will be the loan balance after five years : What will the monthly payments be and what will be the loan balance after 5 years?

What is probability of finding the mean of a daily sample : A truck manufacturer monitors the width of the door seam as vehicles come off its assembly line. the seam width is the distance between the edge of the door and the truck body, in inches. these data are 62 days of measurements of a passenger door ..

Compute the payments loan balances and yield : Compute the payments, loan balances, and yield for the ARM for the five year period and what would the breakdown of interest and principal be during month 50?

What is the probability that the manufacturer turns a profit : a tire manufacturer warranties its tires to last at least 20,000 miles or "you get a new set". In its experience, a set of these tires last on average 26,000 miles with a standard deviation of 5, 000 miles, Assume that the wear is normally distrib..

Determining critical risk measurements : What is Olter's beta coefficient and how does the beta coefficient influence the firm's stock value and what is the required rate of return for Olter

Define finanical security and stability : Most consumers understand that a good credit score is vital to one's finanical security and stability. Many people may understand how a credit score is calculated

User Account

All Pages