Many companies allow managers to accumulate extra working hours above 40 hrs/week (called comp time). Suppose a VP wants to estimate the avg amount of comp time accumulated per week for all managers in her company. The VP selects a random sample of 18 managers. If the sample reveals an average comp time of 13.56 hrs/week, with a standard deviation of 7.8 hrs, construct a 90% confidence interval to estimate the avg amount of comp time accumulated per week in the company.

Many companies allow managers to accumulate extra working hours above 40 hrs/week (called comp time). Suppose a VP wants to estimate the avg amount of comp time accumulated per week for all managers in her company. The VP selects a random sample of 18 managers. If the sample reveals an average comp time of 13.56 hrs/week, with a standard deviation of 7.8 hrs, construct a 90% confidence interval to estimate the avg amount of comp time accumulated per week in the company.

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter13: Probability And Calculus

Section13.2: Expected Value And Variance Of Continuous Random Variables

Problem 10E

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Definition Definition Method in statistics by which an observation’s uncertainty can be quantified. The main use of interval estimating is for describing a range that is made by transforming a point estimate by determining the range of values, or interval within which the population parameter is likely to fall. This range helps in measuring its precision.

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