Constructing Confidence Intervals, business and finance assignment help
Constructing Confidence Intervals, business and finance assignment help
The file contains the weight in pounds from a sample of 368 pallets of Boston shingles and 330 pallets of Vermont shingles.
- For the Boston shingles, construct a 95% confidence interval for the mean weight.
- For the Vermont shingles, construct a 95% confidence interval estimate for the mean weight.
- Do you think the assumptions needed to construct the confidence interval estimates in 1 and 2 are valid?
- Based on the results of 1 and 2, what conclusions can you reach concerning the mean weight of the Boston and Vermont Shingles?
Refer to the Excel file InsuranceClaims for the assignment below:
The files contains data for 90 randomly selected auto injury claims.
- Construct a 95% confidence interval for the population proportion of all auto injury files that have exaggerated loss amounts.
- Construct a 95% confidence interval for the population mean dollar excess payment amount.
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