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Confidence interval estimate of the population mean

In order to estimate the average electric usage per month, a sample of 196 houses was selected, and their electric usage determined.

a. Assume a population standard deviation of 350-kilowatt hours. Determine the standard error of the mean.

b. With a 0.95 probability, determine the margin of error.

c. If the sample mean is 2,000 KWH, what is the 95% confidence interval estimate of the population mean?

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: Confidence interval estimate of the population mean

Reference No:- TGS0689522

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

Q : Calculate the projects net present value

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: Confidence interval estimate of the population mean

Reference No:- TGS0689522

Recent Questions Asked Basic Statistics

Q : Calculate the projects net present value

Q : Determine the cost and gross profit percentage

Q : Calculate fit by the percentage method

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