Project #17886 - Confidence interval

Refer to the spreadsheet entitled defects.xlsx for this question.

The data in the spreadsheet outlines the defect rate of a machine over the past 50

production runs. It is estimated that the cost of obtaining this data is $40 per production

run.

a. Using the sampling technique taught in this course, compute a 95% confidence interval

estimate of the population average defect rate of this machine.

b. The manager expect the confidence interval to be a range no wider than 1% (That is,

±0.5% about the sample mean). Does your answer from part a meet this expectation?

c. In order to meet the requirement in part b while maintaining the same level of

confidence, what is the minimum budget required?

d. Demonstrate mathematically that the budget computed in part c is sufficient to produce

a 95% confidence interval no wider than 1%.

 

 

Defect.xcl

Production Run Defect Rate
1 0.06
2 0.11
3 0.01
4 0.08
5 0.16
6 0.08
7 0.14
8 0.07
9 0.02
10 0.07
11 0.06
12 0.18
13 0.15
14 0.12
15 0.06
16 0.19
17 0.11
18 0.04
19 0.18
20 0.04
21 0.10
22 0.19
23 0.03
24 0.01
25 0.10
26 0.05
27 0.18
28 0.03
29 0.11
30 0.16
31 0.18
32 0.17
33 0.14
34 0.14
35 0.02
36 0.03
37 0.07
38 0.08
39 0.14
40 0.14
41 0.20
42 0.14
43 0.19
44 0.18
45 0.13
46 0.09
47 0.15
48 0.08
49 0.07
50 0.03

Subject Mathematics
Due By (Pacific Time) 11/28/2013 12:00 pm
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