Paul is conducting a study on the dollar value of orders

Assignment Help Basic Statistics

Reference no: EM13620218

Paul is conducting a study on the dollar value of orders placed with various suppliers. A sample of 10 orders showed amounts in thousands of dollars of 43.6, 61.3, 54, 70.7, 46, 56.3, 58.8, 73.7, 47.4, 45.6. Paul wants to develop a 99% confidence interval on the average value dollar of orders.

A. State the value for the point estimate.

B. Find the appropriate standard error.

C. Develop the confidence interval.

Reference no: EM13620218

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