Sample Test 3 (estimation)

Sample Test 3 (estimation) - George Mason University School...

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George Mason University School of Management OM 210: STATISTICAL ANALYSIS FOR MANAGEMENT Prof. Harvey Singer TEST #3: Inference and Regression (SAMPLE) Confidence Interval Example Problems 1. A process packages refined sugar into small 20-ounce bags. The weights of the contents of these bags (net weight) have a standard deviation of 1.2 ounces. A random sample of 36 bags had mean net weight 19.8 ounces. a. What is the point estimate for the mean bag weight? b. On the basis of this point estimate, what do you suspect? c. Calculate the margin of error at 95% confidence. d. Calculate and interpret the 95% confidence interval based on the sample findings for the true mean weight for all bags of sugar produced by this process. e. At 95% confidence, what is the chance that the true mean is actually larger than the upper bound of the 95% confidence interval found in d? f. What is the chance that, on average, a bag is actually filled with 20 ounces of sugar? g. Based on your results so far, is there a statistical basis for suspecting that the bags being underfilled, on average?
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