The homework assignment states to abstract data from an article to in which a population mean is estimated from the sample. It should include a margin of area and confidence interval.
I am suppose to interpret the data as it applies to the article specific subject matter in this case Aircraft mftg. between US and China business Deal.
Below is the data abstracted pertinent to the assignment and article. book said not to use exel spreadshhet for answer!!
Estimating the population mean from the sample.
1. Chose the article and abstracted the following data.
300 ACFT @ $38(b) model planes 737-190 – 60 single aisles-50 wide body
6300 Acft @950 (b)
My thought process is Sample is 300 and the population is 6300 looking for the margin of error and the confidence interval, intrepret and present the information as it is applicable to the article. the book said not to use exel spread spread sheet need by no later than 8 pm east coast virginia time or ASAP Thank you.
Below is my work.
My figures is as follows: sample Mean of 100, sample size n=300
assume standard deviation is 50, Z_cv=2 100-(50)(2)/sqrt (300)<population mean<100 + (50)(2)/sqrt 300
100-5.77<population mean <100 + 5.77
Margin of error 5.77 94.23<population mean<105.77 can you please work with this information to see why we have drawn to differrent answers from the given data,
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