Confidence the number of accounts that must be sampled

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1: You work for a research firm that has been contracted to estimate the mean interest on credit card debit in 2019. Past studies have shown the standard deviation to be $2,050. Make a decision for your research firm: Determine with 98% confidence the number of accounts that must be sampled to estimate the mean interest to within $200.

2: Power + Inc produces AA batteries used in remote controlled toy cars. The life of these batteries follows a normal distribution with a mean of 35.0 hours and a standard deviation of 5.5 hours. As a part of its Quality Assurance program, Power + tests samples of 25 batteries. What is the probability of the sample average beting greater than 36.5 hours?

Take your answer to four decimal places.

Reference no: EM132483637

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