Why is the distribution of lateness certainly not normal

Assignment Help Basic Statistics

Reference no: EM131167460

Suppose a bill is considered late if it is paid after 20 days.

In this case its "lateness" is the number of days over 20. For example, a bill paid 23 days after billing has a lateness of 3, whereas a bill paid 18 days after billing has a lateness of 0.

•Find a 95% confidence interval for the mean amount of lateness for all customers.

•Find similar confidence intervals for each customer size separately.

•Why is the distribution of lateness certainly not normal? Do you think this matters for the validity of the confidence interval?

Reference no: EM131167460

Questions Cloud

Does it matter that you can not really touch anything : Does it matter that you can not really touch anything? How does this make you feel? If you could touch something, what would you touch? How do you think it would feel?

What are the stages of a decubitus ulcers : What is a decubitus ulcer? What are the stages of a decubitus ulcers? What actions are taken at each stage

Concept of operating exposure : Expound on the concept of operating exposure. Does it support or contradict accounting expoisure?

Argentina experienced robust growth and fiscal restraint : Last year Argentina experienced robust growth and fiscal restraint, but some analysts continue to worry about its current account deficit, which today is 4 percent of GDP. But this worry is wrongheaded because this deficit is the result of confidence..

Why is the distribution of lateness certainly not normal : Why is the distribution of lateness certainly not normal? - Do you think this matters for the validity of the confidence interval?

What the forward rate should be and why : 2) Assume PPP is present. The inflation rate in the US is 4% and in Britain it is 11%. The spot ER between the 2 currencies is $/BP1.4. Expound on what the forward rate should be and WHY

Interest rate cuts to quantitative easing : The bank of England has switched from interest rate cuts to “quantitative easing.” This policy involves buying bonds from commercial banks in the hope that these institutions will again lend in vast quantities to businesses and individuals after sitt..

What are the stated objectives : What are the stated objectives of the 2 a fore mentioned institutions?

Find given confidence interval for mean amount of interest : Find a 95% confidence interval for the mean amount of interest it could gain if each of its customers paid exactly one day more promptly.

User Account

All Pages