THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A regional CPA firm conducted an audit for a discount chain.One part of the audit involved developing an estimate for the mean dollar error in total charges that occur during the checkout process.They wish to develop a 90% confidence interval estimate for the population mean.A simple random sample of n = 20 is selected,with the following data (in dollars):

-There is concern about the speed of automobiles traveling over US 131.For a random sample of seven automobiles radar indicated the following speeds,in miles per hour: 80,74,69,78,87,72,and 70.Assuming a normal population distribution,find the margin of error of a 95% confidence interval for the mean speed of all automobiles traveling over this stretch of highway.

Question

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A regional CPA firm conducted an audit for a discount chain.One part of the audit involved developing an estimate for the mean dollar error in total charges that occur during the checkout process.They wish to develop a 90% confidence interval estimate for the population mean.A simple random sample of n = 20 is selected,with the following data (in dollars):
 
-There is concern about the speed of automobiles traveling over US 131.For a random sample of seven automobiles radar indicated the following speeds,in miles per hour: 80,74,69,78,87,72,and 70.Assuming a normal population distribution,find the margin of error of a 95% confidence interval for the mean speed of all automobiles traveling over this stretch of highway.

Quizplus · Accepted Answer

The Answer of THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A regional CPA firm conducted an audit for a discount chain.One part of the audit involved developing an estimate for the mean dollar error in total charges that occur during the checkout process.They wish to develop a 90% confidence interval estimate for the population mean.A simple random sample of n = 20 is selected,with the following data (in dollars):
 
-There is concern about the speed of automobiles traveling over US 131.For a random sample of seven automobiles radar indicated the following speeds,in miles per hour: 80,74,69,78,87,72,and 70.Assuming a normal population distribution,find the margin of error of a 95% confidence interval for the mean speed of all automobiles traveling over this stretch of highway.