4. The BoBo company makes washing machines. In one phase of production it is necessary to...

4. The BoBo company makes washing machines. In one phase of production it is necessary to estimate the average drying time of enamel paint on metal sheeting. Analysis of a random sample of 420 sheets showed that the average drying time is 56 hours and previous data has shown the "population" standard deviation is 12 hours. Find a 99% confidence for the population mean drying time.

Solutions

Expert Solution

Solution :

Given that,

Point estimate = sample mean = = 56

Population standard deviation = = 12
Sample size = n =420

At 99% confidence level the z is ,

= 1 - 99% = 1 - 0.99 = 0.01

/ 2 = 0.01 / 2 = 0.005

Z_/2 = Z_0.005 = 2.576 ( Using z table )

Margin of error = E = Z_/2* ( / $\sqrt$ n)

= 2.576 * ( 12/ $\sqrt$ 420)

= 1.5084

At 99% confidence interval estimate of the population mean is,

- E < < + E

56 -1.5084< < 56+1.5084

54.4916< < 57.5084

(54.4916, 57.5084 )

orchestra answered 1 year ago

Next > < Previous

Related Solutions

A company sells washing machines for $340 each. To produce a batch of n washing machines,...

A company sells washing machines for $340 each. To produce a batch of n washing machines, there is a cost of $249 per washing machine and a fixed or setup cost of $14,600 for the entire batch. Determine a function that gives the profit in terms of the number of washing machines produced. What is the least number of washing machines the company can sell in order to have a profit of $14,000?

The O.T. Company makes 35,000 motors to be used in the production of its sewing machines....

The O.T. Company makes 35,000 motors to be used in the production of its sewing machines. The cost per motor at this level of activity is: Direct materials $4.50 Direct labor $4.60 Variable manufacturing overhead $3.75 Fixed manufacturing overhead $3.45 An outside supplier has offered to supply all the motors the company needs for $15 each. If O.T. Company decided not to make the motors, there would be no other use for the production facilities and none of the fixed...

The manufacture of a washing powder product used in automatic washing machines has estimated the following...

The manufacture of a washing powder product used in automatic washing machines has estimated the following demand equation for its product using data from 30 appliances stores around the country. Q= -350 - 2.0P + 1.2 Px + 5.0I + 6.0 A + 5.0U (3.08) (0.60) (0.55) (0.32) (0.80) (0.021) (SEC) The actual values for each of the independent variables are as follows. Assume the following information for the independent variables: Q = Quantity sold per month Price (P) of...

Q4.M/s. Muhannad Company is dealing with the dealing with imported Washing Machines. The company used to...

Q4.M/s. Muhannad Company is dealing with the dealing with imported Washing Machines. The company used to buy machineries from different countries and selling the machineries in Sultanate of Oman with 19% profit margin. The company was having following assets and liabilities as on 31st December 2019. The company was having liabilities namely Capital RO 425,8900, loan borrowed RO 105,900, amount payable to creditors RO 18,750, outstanding expenses RO 19,650 and salary payable to family members who are not employees of...

. A company selects three washing machines from their manufacturing line for quality testing. Call these...

. A company selects three washing machines from their manufacturing line for quality testing. Call these three washing machines A, B and C. Each washing machine can be of high quality (suitable for sale), medium quality (requires some rework) or low quality (will be scrapped). [5 points each] a. List the elements of the sample space. You need to consider that each washing machine might be of each quality type and don’t forget to include all three washing machines. b....

If the population standard deviation of the lifetime of washing machines is estimated to be 900...

If the population standard deviation of the lifetime of washing machines is estimated to be 900 hours, how large a sample must be taken in order to be 96% confident that the margin of error will not exceed 100 hours?

The SP Corporation makes 33,000 motors to be used in the production of its sewing machines....

The SP Corporation makes 33,000 motors to be used in the production of its sewing machines. The average cost per motor at this level of activity is: Direct materials $ 9.20 Direct labor $ 8.20 Variable manufacturing overhead $ 3.30 Fixed manufacturing overhead $ 4.25 An outside supplier recently began producing a comparable motor that could be used in the sewing machine. The price offered to SP Corporation for this motor is $23.05. If SP Corporation decides not to make...

You own a local manufacturing company producing “High-end Premium” televisions and washing machines. They are branded...

You own a local manufacturing company producing “High-end Premium” televisions and washing machines. They are branded “Parnaby’s Home Appliances”. You are planning to expand your business offshore and have identified England as a new market. At the same time, you have been approached by an English agency suggesting they act for you. You and the Agency must identify and target the local retailers in the British market place. You are now tasked with getting your products from Australia to England...

Suppose that replacement times for washing machines are normally distributed with a mean of 9.3 and...

Suppose that replacement times for washing machines are normally distributed with a mean of 9.3 and a standard deviation of 1.1 years. Find the probability that 70 randomly selected washing machines will have a mean replacement time less than 9.1 years.

Based on extensive testing, a manufacturer of washing machines believes that the distribution of the time...

Based on extensive testing, a manufacturer of washing machines believes that the distribution of the time (in years) until a major repair is required has a Weibull distribution with alpa =2/3 and β=2. a. What is the mean time until a major repair is required? b. If the manufacturer guarantees all machines against a major repair for 1 year, what proportion of all new washers will have to be repaired under the guarantee?

Subjects