Samples Were Taken from the Morning AM) and the Afternoon

question 68

Short Answer

Samples were taken from the morning AM) and the afternoon PM) shifts of a production process. The results are shown below.
$\begin{array}{|l|c|c|}\hline & \begin{array}{c}\text { 1) } \\\text { AM Shift }\end{array} & \begin{array}{c}\text { 2) } \\\text { PM Shift }\end{array} \\\hline \text { Sample Size } & 900 & 800\\\hline \text { Sample Mean } & 810 & 600 \\\hline \text { Population Variance } & 144 & 196 \\\hline\end{array}$ Determine the following for the above data.
a. Standard error of the mean
b. Point estimate of the difference between the two means.
c. Develop a 97% confidence interval estimate for the difference between the two means.

---

Definitions:

Common Stock

Equity ownership in a corporation, with voting rights and the potential to receive dividends.

Cash Dividend

A payment made by a company to its shareholders, usually as a distribution of profits.

Journal Entry

A record in the books of accounts that represents a business transaction, including the accounts and amounts to be debited and credited.

Dividend Yield Ratio

A business ratio reflecting the amount a firm disburses in dividends annually compared to the price of its shares.