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The Mean Replacement Time for a Random Sample of 12

question 27

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The mean replacement time for a random sample of 12 CD players is 8.6 years with a standard deviation of 5.8 years. Construct the 98% confidence interval for the population variance, σ2. Assume the data are normally distributed, and round to the nearest hundredth when necessary.


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A corporation in a state in which it conducts business but is not incorporated.

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A type of corporation in the United States that meets specific Internal Revenue Code requirements and is taxed differently, passing income directly to shareholders.

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Individuals or entities that own shares in a corporation, giving them certain rights and interests in the company.

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