1) Confidence Interval for the mean (u) with known variance (02) Example 1 : You are advising a transport company planni

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1 Confidence Interval For The Mean U With Known Variance 02 Example 1 You Are Advising A Transport Company Planni 1 (284.43 KiB) Viewed 20 times

1) Confidence Interval for the mean (u) with known variance (02) Example 1 : You are advising a transport company planning on buying new vehicles for the operation. The decision depends on whether a performance of 28.5 km/gallon can be guaranteed. Based on the information from the manufacturer you know that the standard deviation in the performance of the vehicles is 3.5 Km/gallon. You make an experiment with 36 vehicles and obtain an performance average of 26.5 Km/gallon. Xtza * o o → With 99% confidence, which would be your decision? Vi