ESTIMATING THE POPULATION MEAN
Statistics – Standard Deviation
July 9, 2019The mean age at which men in the United States marry for the first time
July 9, 2019SEE ECCO INFO ATTACHED
The quality manager at Ecco Company, a maker of back-up alarms for use on industrial vehciles such as forklifts, is interested in estimating the meandollar volume for warranty claims for products made in Boise on the day shift. He has taken a pilot sample. See info attached.
a. Assuming that the manager wishes to estimate the mean warranty amount to withing
±$8.00 with 90% confidence, how many additional claims must be selected to develop the estimate?
b. Suppose the sample size determined in part a is more than the manager is willing to use. What options are open to the manager? Discuss.
c. Referring to parts a and b, suppose the manager wishes to cut the total sample size in half. For each option available to the manger, show specifically what must be done to achieve the reduction in sample size.
See the attached Excel file. Thanks
The quality manager at Ecco Company, a maker of back-up alarms for use on industrial vehicles such as forklifts, is interested in estimating the mean dollar volume for warranty claims for products made in Boise on the day shift. He has taken a pilot sample. See info attached.
a. Assuming that the manager wishes to estimate the mean warranty amount to withing
±$8.00 with …
The following posting shows how to estimate the population mean for the warranty claim.
