The industry standard for last year was an average claim $1540. Based on your in
ID: 3175868 • Letter: T
Question
The industry standard for last year was an average claim $1540. Based on your interval computed above, does it appear that Big shoulder's claims are above average? Explain. Problem 5 A machine is designed to produce rubber gaskets with a mean thickness of 0.125 inch; the standard deviation sigma = 0.01 inch. It is thought that the mean has changed, but the standard deviation is the same. How many gaskets should be measured to be able to estimates the new mean mu by the sample mean x to within 0.001 inch with 97% confidence?Explanation / Answer
5) here margin of errror =0.001
and std deviation =0.01
also for 97% CI, z=2.17
hence sample szie =(Z*std deviation/E)1/2 =~471
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