Create 95 confidence interval estimate for population mean

Assignment Help Mathematics

Reference no: EM13472512

In New York State, savings banks are permitted to sell a form of life insurance called savings bank life insurance (SBLI). The approval process consists of underwriting, which includes a review of the application a medical information bureau check, possible requests for additional medical information and medical exams, and a policy compilation stage in which the policy pages are generated and sent tot the bank for delivery. The ability to deliver approved policies to customers in a timely manner is critical to the profitability of this service to the bank. During a period of one month, a random sample of 27 approved policies was selected, and the total processing time, in days, was a s shown below and stored in Insurance

73 19 16 64 28 28 31 90 60 56 31 56 22 18
45 48 17 17 17 91 92 63 50 51 69 16 17

a) Construct a 95% confidence interval estimate for the population mean processing time.

b) What assumption must you make about the population distribution order to construct the confidence interval estimate in (a)?

c) Do you think that the assumption needed in order to construct the confidence interval estimate in (a) is valid? Explain.

Reference no: EM13472512

Questions Cloud

Please set up a mock crime scene of your choice and find : please set up a mock crime scene of your choice and find shoe wear impressions in your crime scene. take pictures of

How would you process the scene in which a victim had bite : you arrive on the crime scene and you observe a shoe impression in the mud. describe the process to recover that shoe

The farmers market is selling nectarines for 089 each and : the farmers market is selling nectarines for 0.89 each and plums for 0.59 each. how many nectarines and plums could be

Explain the fundamental impact that the court decision in : looking at the supreme court case of elk grove unified school district v. newdownbsp it brings up very interesting

Create 95 confidence interval estimate for population mean : in new york state savings banks are permitted to sell a form of life insurance called savings bank life insurance sbli.

William bailey and william vaught as officers for bailey : 1.william bailey and william vaught as officers for bailey vaught robertson and co. bvr signed a promissory note to

Relations between law enforcement and security can : you are a newly promoted manager for a medium-sized locally operated security company. the owner of the company

As a librarian or classroom teacher you are making book : as a librarian or classroom teacher you are making book selections for a new unit of study. identify a grade level and

Ceate 95 confidence interval estimate for population mean : one of the major measures of the quality of service provided by any organization is the speed with which t responds to

User Account

All Pages