A small stock brokerage firm wants to determine the average

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1 .The weight of a .5 cubic yard bag of landscape mulch is uniformly distributed over the interval from 38.5 to 41.5 pounds. What is the probability that a bag will weigh less than 41 pounds?

2 . A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks to their clients. A sample of the sales for 36 days revealed average daily sales of $200,000. Assume that the standard deviation of the population is known to be $18,000.

 

a.  Provide a 90% confidence interval estimate for the average daily sale.

b.  Provide a 99% confidence interval estimate for the average daily sale.

3 . Consider the following results for two samples randomly taken from two normal populations with equal variances.

 

 

 

Sample I

Sample II

 

Sample Size

28

35

 

Sample Mean 

48

44

 

Population Standard Deviation

9

10

a.   Develop a 95% confidence interval for the difference between the two population means.

b.   Is there conclusive evidence that one population has a larger mean? Explain.

 

Reference no: EM13476899

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