Estimate the population mean flying time for the pilots, Basic Statistics

Assignment Help:

The mean number of hours of flying time for pilots at Continental Airlines is 49 hours per month (The Wall Street Journal, February 25, 2003). Assume that this mean was based on actual flying times for a sample of 100 Continental pilots and that the sample standard deviation was 8.5 hours.

a. At 95% confidence, what is the margin of error?

b. What is the 95% confidence interval estimate of the population mean flying time for the pilots?

c. The mean number of hours of flying time for pilots at United Airlines is 36 hours per month. Use your results from part (b) to discuss differences between the flying times for the pilots at the two airlines. The Wall Street Journal reported United Airlines as having the highest labor cost among all airlines. Does the information in this exercise provide insight as to why United Airlines might expect higher labor costs?

 


Related Discussions:- Estimate the population mean flying time for the pilots

perform hypothesis test and find the minimum sample size, Questions ...

Questions In one hybridization experiment 8070 offspring seeds were obtained, and 23.54% of them had green flowers.  The others had white flowers.  Perform a hypothesis test

Manufacturing overhead referred to as factory overhead, Manufacturing overh...

Manufacturing overhead referred to as factory burden, factory overhead, and manufacturing support costs refers to indirect factory related costs which are incurred when a product i

Limitation of the financial accounting, Limitation of the Financial Account...

Limitation of the Financial Accounting. There much limitation can be considered in case of the Financial Accounting but here we are discussing the main two limitations  It re

Co-relation, Co-relation: Co-relation in this case studies the behavior how...

Co-relation: Co-relation in this case studies the behavior how each of the investment opportunity would react to any event vis – a vis each other. The same is measured in terms of

Probability, How can you use probability to improve your chances of winning...

How can you use probability to improve your chances of winning at a casino

Holding period return, Holding period return: Holding period return is the ...

Holding period return: Holding period return is the return earned by the virtue of holding an asset over a given period. The return is equal to the income and other gains earned fr

Schedules, what are the characteristics of schedules

what are the characteristics of schedules

The owner of the finer diner submitted a proposal, The owner of the Finer D...

The owner of the Finer Diner submitted a proposal to you in hopes of selling the business to you. His asking price is $250,000. Your financial institution advises that your month

Angler survey, Angler survey A survey used by sport fishery managers t...

Angler survey A survey used by sport fishery managers to calculate the total catch, fishing effort and catch rate for the given body of water. For instance, the whole effort m

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd