BSB123 Tutorial 08 - Estimation

# BSB123 Tutorial 08 - Estimation - (a and(b Problem 8.11...

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Tutorial 8: Estimation Reading Topic* Chapter Sections Page 8 8 8.1 8.2 8.3 8.4 235 - 255 Section A (Attempt before tutorial - Solutions provided on Blackboard) Problem 8.1 page 240 Problem 8.10 page 246 Problem 8.18 page 247 Problem 8.22 page 250 Problem 8.24 page 250 Problem 8.31 page 255 Problem 8.35 page 255 Section B (Worked through in class - Solutions provided in class) Problem 8.8 page 241 The quality control manager at a light bulb factory needs to estimate that mean life of a large shipment of light bulbs. The standard deviation is 100 hours. A random sample of 64 light bulbs indicates a sample mean life of 350 hours. (a) Construct a 95% confidence interval estimate of the population mean life of light bulbs in this shipment. (b) Do you think that the manufacturer has the right to state that the light bulbs last an average of 400 hours? Explain. (c) Must you assume that the population of light bulb life is normally distributed? Explain. (d) Suppose that the standard deviation changes to 80 hours. What are your answers in

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Unformatted text preview: (a) and (b)? Problem 8.11 page 246 If f8e5 X = 75, S = 24, n = 36, and assuming that the population is normally distributed, construct a 95% confidence interval estimate of the population mean μ . Problem 8.45 page 256 A study conducted by the Australian Stock Exchange found that 46% of 2,405 Australian adults surveyed in 2006 held shares, either directly or indirectly through managed funds or self-managed superannuation funds (2006 Australian Share Ownership Study, ASX). (a) Construct a 95% confidence interval for the proportion of Australian adults who held shares in 2006. (b) Interpret the interval constructed in (a). (c) To construct a follow-up study to estimate the population proportion of adults who currently hold shares to within ± 0.01 with 95% confidence, how many adults would you interview?...
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## This note was uploaded on 04/05/2010 for the course BUSINESS 11 taught by Professor 11 during the Spring '10 term at University of Hawaii, Manoa.

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BSB123 Tutorial 08 - Estimation - (a and(b Problem 8.11...

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