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Unformatted text preview: ECON 2843 – 010 Name KEY Exam 2 ID # Fall 2007 Lab Instructor Form A Lab Meeting Time Students must show all work on problems that involve calculation, even if the answer is multiple choice. Questions 1 – 5 refer to the following. Oxford Cereals fills thousands of boxes of cereal during an eight-hour shift, where the variance of the weight of the boxes is 225 grams 2 . A sample of 25 boxes produced a mean of 365.25 grams. 1. Construct a 95% confidence interval for the population mean? (5 points) a. (245.34 , 485.16) b. (277.05 , 453.45) c. (347.61 , 382.89) d. (359.06 , 371.44) e. (359.37 , 371.13) * 2. Give a one or two sentence interpretation of the confidence interval in question 1. (5 points) In a repeated sampling procedure, 95% of the intervals constructed in this manner would contain the true population mean μ . 3. During the previous day, the plant operations manager used a sample of 25 boxes to construct a confidence interval given by (352.8 , 367.2). What is the probability content of this interval? (10 points) a. 12.72 % b. 80 % c. 90 % d. 98.36 % * e. 99.18 % 1 4. There has been some concern that the past confidence intervals are too wide to achieve the desired accuracy. achieve the desired accuracy....
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This note was uploaded on 04/07/2008 for the course ECON 2843 taught by Professor Hudgins during the Spring '08 term at The University of Oklahoma.
- Spring '08