How large sample do need to take to estimate the mean
We are interested in estimating the mean life of a new product. How large a sample do we need to take in order to estimate the mean to within 1/10 of a standard deviation with 90% confidence?
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The mean at 12.8 ounces but adjust the standard deviation so that only 2% of the bags weigh less than 12 ounces, how small must that standard deviation be?
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This equation was estimated using mortgage and interest rate data taken from the 5 years. In that time researchers observed interest rates between 4.25 and 9.75 percent. A marketing person wanted to use this equation to predict contracts if the in
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