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Management Studies

Problem:

The mean lifetime of all light bulbs produced by a manufacturer is unknown. A sample of 144 bulbs is randomly selected and tested. The average lifetime of this group is measured and found to be 1500 hours with a sample standard deviation of 120 hours.

Required:

Question 1) What is the point estimate for the population mean?

Question 2) Construct the 99% confidence interval estimate for the true population mean.

Solve the given numerical problem and illustrate step by step calculation.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91149208

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