Posted by Beka Mamukashvili some time ago
Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $30,000 and $45,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. What is the planning value for the population standard deviation? How large a sample should be taken if the desired margin of error is 100$
Posted by NandhaGopal Selvaraj some time ago
A soft drink company has recently received customer complaints about its one-liter-sized soft drink products. Customers have been claiming that the one-liter-sized products contain less than one liter of soft drink. The company has decided to investigate the problem. According to the company records, when there is no malfunctioning in the beverage dispensing unit, the bottles contain liters of beverage on average, with a standard deviation of liters. A sample of bottles has been taken to be measured from the beverage dispensing lot. The mean amount of beverage in these bottles was liters. Find the probability of observing a sample mean of liters or less in a sample of bottles, if the beverage dispensing unit functions properly.
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