Determining confidence interval for true population mean

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Reference no: EM1321456

Q1) Following data represent random sample of bank balances for population of checking account customers at large eastern bank. Based on these data, determine the 95 percent confidence interval estimate for true population mean?

$2,300	$756	$325	$1,457	$208	$2,345
1560	124	356	3179	457	789
120	2760	998	508	210	789

a) Approximately $1,069 + $484.41

b) About $839.40 to $1,298.60

c) Approximately $1,069 + 2.1098

d) None of the above.

Q2) AMI Company has 2 assembly lines in its Kansas City plant. Line A makes the average of 335 units per day with standard deviation equal to 11 units. Line B makes an average of 145 units per day with standard deviation equal to 8 units. Based on this information, which line is relatively more consistent?

Reference no: EM1321456

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