Question

In: Statistics and Probability

The Crossett Trucking Company claims that the mean mass of its delivery trucks when they are...

The Crossett Trucking Company claims that the mean mass of its delivery trucks when they are fully loaded is 2550 kg and the standard deviation is 63 kg. Assume that the population follows the normal distribution. Forty trucks are randomly selected and their masses measured. Within what limits will 98% of the sample means occur? (Round the final answers to the nearest whole number.)

Sample means             to

Solutions

Expert Solution


Solution :

Given that,

= 2550

s = 63

n = 40

Degrees of freedom = df = n - 1 = 40 - 1 = 39

At 98% confidence level the t is ,

= 1 - 98% = 1 - 0.98 = 0.02

/ 2 = 0.02 / 2 = 0.01

t /2,df = t0.01,39 =2.426

Margin of error = E = t/2,df * (s /n)

= 2.426 * (63 / 40)

= 24

Margin of error = 24

The 98% confidence interval estimate of the population mean is,

- E < < + E

2550 - 24 < < 2550 +24

2526 < < 2574

(2526, 2574 )


Related Solutions

The Crossett Trucking Company claims that the mean mass of its delivery trucks when they are...
The Crossett Trucking Company claims that the mean mass of its delivery trucks when they are fully loaded is 3000 kg and the standard deviation is 79 kg. Assume that the population follows the normal distribution. Forty trucks are randomly selected and their masses measured. Within what limits will 95% of the sample means occur? (Round the final answers to the nearest whole number.) Sample means
Crossett Trucking Company claims that the mean weight of its delivery trucks when they are fully...
Crossett Trucking Company claims that the mean weight of its delivery trucks when they are fully loaded is 5,650 pounds and the standard deviation is 240 pounds. Assume that the population follows the normal distribution. Forty-five trucks are randomly selected and weighed. Within what limits will 90% of the sample means occur? (Round your z-value to 2 decimal places and final answers to 1 decimal place.) Sample means _______ to _______
Crossett Trucking Company claims that the mean weight of its delivery trucks when they are fully...
Crossett Trucking Company claims that the mean weight of its delivery trucks when they are fully loaded is 5,300 pounds and the standard deviation is 170 pounds. Assume that the population follows the normal distribution. Thirty trucks are randomly selected and weighed. Within what limits will 99 percent of the sample means occur? (Round your z-value to 2 decimal places and final answers to 1 decimal place.) Sample means ____ to _____
Crossett Trucking Company claims that the mean weight of its delivery trucks when they are fully...
Crossett Trucking Company claims that the mean weight of its delivery trucks when they are fully loaded is 5,850 pounds and the standard deviation is 280 pounds. Assume that the population follows the normal distribution. Fifty trucks are randomly selected and weighed. Within what limits will 95 percent of the sample means occur?
Grumpy Trucking manufactures trucks and currently produces all of the required parts for its trucks internally....
Grumpy Trucking manufactures trucks and currently produces all of the required parts for its trucks internally. Grumpy has received an offer from an external vendor to supply all of the axles for Grumpy’s trucks at a cost of $5,000 per axle. The following information relates to Grumpy’s axle production: Production                                    2,000 axles Variable costs                              4,000 per axle produced Machine costs                             $1,000,000 Other fixed costs                         $500,000 (a) Machine costs represent rental payments for equipment used in axle production. If Grumpy accepts...
A trucking company has GPS (global positioning satellite) locators on its repair trucks to track the...
A trucking company has GPS (global positioning satellite) locators on its repair trucks to track the location of each truck in its repair fleet. Every 15 minutes, the GPS sends the company the location (latitude and longitude) of each truck. In response to complaints about a repairman’s slow response times, senior managers were able to plot the movement of his truck. They found that the driver made long side trips to the same house at roughly the same time each...
At a certain trucking company, 75% of the trucks are on time. A sample of 10...
At a certain trucking company, 75% of the trucks are on time. A sample of 10 trucks are studied. a.) Find the probability that all of the 10trucks are on time. b.) Find the probability that exactly 8trucks are on time.
In 2015, a delivery company purchased a fleet of local delivery trucks for $175,000. These are...
In 2015, a delivery company purchased a fleet of local delivery trucks for $175,000. These are 5 year assets. This company pays federal tax at a rate of 23% per year. (a) Develop a MACRS depreciation table for this asset, and compute the post-tax income of this company using their gross sales income given below. (b) Is this a good investment if MARR = 25% per year? (c) The company sold the trucks in September 2020 for $18,000. What are...
The Cross-Canada Trucking Company has expanded its shipping capacity by purchasing 120 trucks and trailers from...
The Cross-Canada Trucking Company has expanded its shipping capacity by purchasing 120 trucks and trailers from a competitor that went bankrupt. The company subsequently located 40 of the purchased trucks at each of its shipping warehouses in Quebec City, Quebec, Sault Ste. Marie, Ontario and Edmonton, Alberta. The company makes shipments from each of these warehouses to terminals in Montreal, Quebec, Toronto, Ontario and Calgary, Alberta. Each truck is capable of making one shipment per week. The terminal managers have...
Speedy Delivery has a very lazy accountant. When originally setting up the delivery trucks into the...
Speedy Delivery has a very lazy accountant. When originally setting up the delivery trucks into the accounting system, the accountant did not want to calculate the expected salvage value for each vehicle. He left salvage value at $0 even though this is not the case. Explain what leaving the salvage value at $0 would do for depreciation. Discuss the differences, if any, between straight-line, double-declining, and units-of-production methods.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT