Essay
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
An auditor,examining a total of 800 accounts receivable by a corporation,selected a random sample of 60 accounts.The sample mean is $130.54 and the sample standard deviation is $42.56.
-A statistician observed,for the population mean,a confidence interval running from $119.42 to $135.42.What is the probability of this interval? What is α?
Correct Answer:
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135.42 - 119.42 = 16 = 2zα/2
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