QUESTION 3 A manager of an e-commerce company would like to determine average delivery )me of the products. A sample of

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answerhappygod
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QUESTION 3 A manager of an e-commerce company would like to determine average delivery )me of the products. A sample of

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QUESTION 3
A manager of an e-commerce company would like to determine
average delivery )me of the products. A sample of 25 customers is
taken. The average delivery )me in the sample was four days with a
standard devia)on of 1.2 days. Suppose the delivery )mes are
normally distributed.
i) Es)mate the mean delivery )me with a 73% of confidence
ii) Es)matethemeandelivery)mewitha91%ofconfidence
iii) Show the trade-off between precision and confidence in this
example.
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