Question

The owner of a computer repair shop has determined that his daily revenue has a mean of $7000 and a standard deviation of $1200. The daily revenue totals for the next 30 days will be monitored. What is the probability that the mean daily revenue for the next 30 days will exceed $7325? A hotel chain is considering expanding into Gotham. As part of their consideration they want to estimate the average number of conference rooms rented daily.

The population of conference rooms rented daily is assumed to be normally distributed for each with a population standard deviation of 24 rooms. A sample of 16 days is taken and the sample mean is found to be 48 rooms. Construct a 90% confidence interval for the mean number of rooms rented daily in Gotham.

.You want to know the average salary of CFOs in a given industry. A sample is taken and a 98% confidence interval was found to be ($5,818,260, $8,638,180). Which of the following interpretations is correct?

Answer 1

solution Given that (二子9-000 6 本 1200 So, 1200 | 3 25 219 09 usinドtable 三1-0. 9.306

iven that 6-24 rooms n= 16 so, at 90% confidence levd He Z is, A go У, confidence interval toru is 33.13 S. g (4S g18, 260,キg,63818。 9 8 %-Corp ident t-hat th Salary Conpidence interveJ ·- -yle are | Gt Cfosinagirn indestry betweeh きS, 818,260-andキ8,638 (go