Chapter 8 Interval Estimation - Part I(1).docx

Chapter 8 Interval Estimation - Part I(1).docx - OPRE 3360...

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OPRE 3360 - Managerial Methods in Decision Making Under Uncertainty Chapter 8 Interval Estimation - Part I Name ___________________________________________ Net-ID__________________________ 1. A simple random sample of 40 items resulted in a sample mean of 25. The population standard deviation is 5. A. What is the standard error of the mean? B. At 95% confidence, what is the margin of error? 2. A simple random sample of 50 items from a population with standard deviation of 6 resulted in a sample mean of 32. A. Provide a 90% confidence interval for the population mean. B. Provide a 95% confidence interval for the population mean. C. Provide a 99% confidence interval for the population mean. 3. A simple random sample of size 60 resulted in a sample mean of 80. The population standard deviation is 15. A. Compute the 95% confidence interval for the population mean.
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