Determining confidence interval for true mean cost

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Q1) In standard normal distribution the variance is always.

Q2) Auditor wishes to evaluate what proportions of bank's commercial loan files are incomplete. Auditor randomly samples 100 files and determines 9 are incomplete. Using 95% confidence interval, evaluate true proportion of incomplete files for ALL the bank's commercial loans.

Q3) Determine P(9 < x < 15) when mu = 12 and sigma = 2. Write down your steps in probability notation.

Q4) Automobile safety engineer wishes to evaluate mean cost to repair a Chevy Corvette involved in a 30 mile per hour head-on collision. Engineer crashes 20 Corvettes and determine mean damage is $16,300 with standard deviation of $2,330. Determine a 95% confidence interval for true mean cost to repair this type of car.

Reference no: EM1321397

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