a. Using an unbiased estimation procedure, find an estimate of the population mean. An estimate of the population mean is $126.99. (Round to the nearest cent as needed.) b. Using an unbiased estimation procedure, find an estimate of the variance of the sample mean. An estimate of the variance of the sample mean is 19.357. (Round to three decimal places as needed.) c. Find a 90% confidence interval for the population mean.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 1GP
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An auditor, examining a total of 820 accounts receivable of a corporation, took a random sample of 90 of them. The
sample mean was $126.99, and the sample standard deviation was $44.21. Complete parts a through e.
a. Using an unbiased estimation procedure, find an estimate of the population mean.
An estimate of the population mean is $126.99.
(Round to the nearest cent as needed.)
b. Using an unbiased estimation procedure, find an estimate of the variance of the sample mean.
An estimate of the variance of the sample mean is 19.357.
(Round to three decimal places as needed.)
c. Find a 90% confidence interval for the population mean.
$119.68 <<$ 134.30
(Round to the nearest cent as needed.)
d. A statistician found, for the population mean, a confidence interval running from $116.99 to $136.99. What is the
probability content of this interval?
The probability content is
(Round to four decimal places as needed.)
Transcribed Image Text:An auditor, examining a total of 820 accounts receivable of a corporation, took a random sample of 90 of them. The sample mean was $126.99, and the sample standard deviation was $44.21. Complete parts a through e. a. Using an unbiased estimation procedure, find an estimate of the population mean. An estimate of the population mean is $126.99. (Round to the nearest cent as needed.) b. Using an unbiased estimation procedure, find an estimate of the variance of the sample mean. An estimate of the variance of the sample mean is 19.357. (Round to three decimal places as needed.) c. Find a 90% confidence interval for the population mean. $119.68 <<$ 134.30 (Round to the nearest cent as needed.) d. A statistician found, for the population mean, a confidence interval running from $116.99 to $136.99. What is the probability content of this interval? The probability content is (Round to four decimal places as needed.)
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