Question 16Say that a supplier claims they are 99% confident that their products will be in the interval

of 50.02 to 50.38. You take samples and find that the 99% confidence interval of what they are sending is 50.03 to 50.37. What conclusion can be made?

A)The supplier products have a higher mean than claimed

B)The supplier is less accurate than they claimed

C)The supplier products have a lower mean than claimed

D)The supplier is more accurate than they claimed

Question 17

Market research indicates that a new product has the potential to make the company an additional $1.6 million, with a standard deviation of $2.0 million. If this estimate was based on a sample of 8 customers, what would be the 95% confidence interval?

A)(0.21, 3.00)

B)(0.00, 3.27)

C)(-0.40, 3.60)

D)(-0.07, 3.27)

Question 18

In a sample of 28 cups of coffee at the local coffee shop, the average temperature was 182.5 degrees with a standard deviation of 14.1 degrees. What would be the 95% confidence interval for the temperature of your cup of coffee?

A)(177.03, 187.97)

B)(168.40, 196.60)

C)(177.28, 187.72)

D)(148.40, 176.60)

Question 19

In a situation where the sample size was 46 while the standard deviation was decreased, what would be the impact on the confidence interval?

A)It would become narrower due to less dispersion in values

B)It would become narrower with fewer values

C)It would become wider due to more dispersion in values

D)It would remain the same as standard deviation does not impact confidence intervals

Question 20

You needed a supplier that could provide parts as close to 76.8 inches in length as possible. You receive four contracts, each with a promised level of accuracy in the parts supplied. Which of these four would you be most likely to accept?

A)Mean of 76.8 with a 99% confidence interval of 76.8 to 77.0

B)Mean of 76.8 with a 95% confidence interval of 76.6 to 77.0

C)Mean of 76.800 with a 90% confidence interval of 76.6 to 77.0

D)Mean of 76.800 with a 99% confidence interval of 76.5 to 77.1

 

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