MATH 534 Week 4 Quiz (v1)

1. Supposearandomsampleof400isselectedfromapopulationwithastandarddeviationof5.Ifthesamplemeanis25,the98%confidenceintervaltoestimate thepopulationmean is between 2. Thepointestimateofthepopulationmeanis 3. Supposearandomsampleof50isdrawnfromapopulationwhosestandarddeviationisunknown.Ifthesamplemeanis70andthesamplestandarddeviationis5,the92%confidenceintervaltoestimatethepopulationmeanisbetween . 4. Supposearesearcherisinterestedinunderstandingthevariationinthe price of store brand milk. A random sample of 36 grocery storesselected from a population and the mean price of store brand milk iscalculated. The sample mean is $3.13 with a population standarddeviationof$0.23.Constructa92%confidenceintervaltoestimatethepopulationmean. 5. BrianVanecek,VPof Operationsat PortlandTrust Bank,isevaluatingthe service level provided to walk-in customers. Accordingly, his staffrecordedthewaitingtimesfor64randomlyselectedwalk-incustomersanddeterminedthattheirmeanwaitingtimewas15minutes.Assumethatthepopulationstandarddeviationis4minutes.The90%confidenceintervalforthepopulationmean ofwaitingtimesis