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):
-There is concern about the speed of automobiles traveling over US 131.For a random sample of seven automobiles radar indicated the following speeds,in miles per hour: 80,74,69,78,87,72,and 70.Assuming a normal population distribution,find the margin of error of a 95% confidence interval for the mean speed of all automobiles traveling over this stretch of highway.
Correct Answer:
Verified
n = 7, 
= 75.7143,s = 6.3957,...View Answer
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Correct Answer:
Verified
= 75.7143,s = 6.3957,...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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