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The following two acceptance rules are being considered for determining whether to take delivery of a large shipment of components: 1) Take a random sample of 10 components and accept the shipment if none of them are defective; 2) Take a random sample of 20 components and accept the shipment if no more than one of them are defective.
a) For each rule, what is the probability of accepting a shipment containing 20% defective components?
b) For each rule, what is the probability of rejecting a shipment containing 10% defective components?
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Conduct a two-sample test of means. A study by a bank compared the average savings of customers who were depositors for three years or less with those who had been depositors for more than three years.
Precisely (that is, using specific numbers) what does the central limit theorem tell us about the sampling distribution of sample means for samples of this size from this population?
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Calculate the population mean and compare it to the mean of the sampling distribution.
A study of 36 members of the Central Park Walkers showed that they could walk at an average rate of 2.6 miles per hour. The sample standard deviation is 0.4. Find the 95% confidence interval for the mean for all walkers.
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