Solution-Confidence interval for the population mean

Confidence interval for the population mean casting weight

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Reference no: EM131717988

Can you solve and explain these questions for me?

1) The weights of aluminum castings produced by a process are normally distributed. A random sample of 5 castings is selected; the sample mean weight is 2.21 pounds; and the sample standard deviation is 0.12 pound. Construct the 98% confidence interval for the population mean casting weight.

2)Ten analysts have given the following fiscal-year earnings/share forecasts for a stock. Assume that the analyst forecasts are normally distributed. (Also assume that we can ignore the finite population correction factor.)

Forecast $1.40 $1.43 $1.44 $1.45 $1.47 $1.48 $1.50

Number of analysts 1 1 3 2 1 1 1

1) What are the mean and the standard deviation of forecasts?

2) Provide a 95 percent confidence interval for the population mean of the forecasts.

Reference no: EM131717988

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Confidence interval for the population mean casting weight : Construct the 98% confidence interval for the population mean casting weight.

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Confidence interval for the population mean casting weight

Reference no: EM131717988

Reference no: EM131717988

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