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Solnce55 [7]
3 years ago
5

On a pleasant Monday, the Dow-Jones Industrial average closed at 11,315. On Wednesday, it closed down twice as many points as it

gained Tuesday. On Thursday, it lost 20 points. On Friday, it gained 10 points and closed at 9,782. How much did the market lose on Wednesday?
Mathematics
1 answer:
kirza4 [7]3 years ago
6 0
I think it lose 1533 points
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An automobile company wants to determine the average amount of time it takes a machine to assemble a car. A sample of 40 times y
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Answer:

A 98% confidence interval for the mean assembly time is [21.34, 26.49] .

Step-by-step explanation:

We are given that a sample of 40 times yielded an average time of 23.92 minutes, with a sample standard deviation of 6.72 minutes.

Firstly, the pivotal quantity for finding the confidence interval for the population mean is given by;

                               P.Q. =  \frac{\bar X-\mu}{\frac{s}{\sqrt{n} } }  ~ t_n_-_1

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<em> Here for constructing a 98% confidence interval we have used a One-sample t-test statistics because we don't know about population standard deviation. </em>

<u>So, a 98% confidence interval for the population mean, </u>\mu<u> is; </u>

P(-2.426 < t_3_9 < 2.426) = 0.98  {As the critical value of z at 1%  level

                                               of significance are -2.426 & 2.426}  

P(-2.426 < \frac{\bar X-\mu}{\frac{s}{\sqrt{n} } } < 2.426) = 0.98

P( -2.426 \times {\frac{s}{\sqrt{n} } } < {\bar X-\mu} < 2.426 \times {\frac{s}{\sqrt{n} } } ) = 0.98

P( \bar X-2.426 \times {\frac{s}{\sqrt{n} } } < \mu < \bar X+2.426 \times {\frac{s}{\sqrt{n} } } ) = 0.98

<u>98% confidence interval for</u> \mu = [ \bar X-2.426 \times {\frac{s}{\sqrt{n} } } , \bar X+2.426 \times {\frac{s}{\sqrt{n} } } ]

                                     = [ 23.92-2.426 \times {\frac{6.72}{\sqrt{40} } } , 23.92+2.426 \times {\frac{6.72}{\sqrt{40} } } ]  

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Therefore, a 98% confidence interval for the mean assembly time is [21.34, 26.49] .

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