Essay
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A regional CPA firm conducted an audit for a discount chain.One part of the audit involved developing an estimate for the mean dollar error in total charges that occur during the checkout process.They wish to develop a 90% confidence interval estimate for the population mean.A simple random sample of n = 20 is selected,with the following data (in dollars):
-The number of television sets coming off a production line each day is known to have a standard deviation of 118.5 sets per day.The production manager tells you that the 90% confidence interval for the population mean was 552.3 to 621.9.How large a sample was this confidence interval based on?
Correct Answer:
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Width = 2Zα/2 
= 621.9...View Answer
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Correct Answer:
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= 621.9...
View Answer
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