A Coal Company Wants to Determine a 95% Confidence Interval

question 62

Short Answer

A coal company wants to determine a 95% confidence interval estimate for the average daily tonnage of coal that they mine. Assuming that the company reports that the standard deviation of daily output is 200 tons, how many days should they sample so that the margin of error will be 39.2 tons or less?

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Definitions:

Special Equipment

Equipment that is not standard issue and is designed or selected for a specific task or environment.

Beet Fiber

A byproduct of sugar beet processing that is used as a dietary fiber supplement or in the production of biodegradable products.

Refined Sugar

Sugar that has been processed to remove impurities and achieve a desired level of purity.

Intermediate Products

Goods that are produced by one company to be further processed by another company into final products.