THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 117

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A regional CPA firm conducted an audit for a discount chain.One part of the audit involved developing an estimate for the mean dollar error in total charges that occur during the checkout process.They wish to develop a 90% confidence interval estimate for the population mean.A simple random sample of n = 20 is selected,with the following data (in dollars):

-There is concern about the speed of automobiles traveling over US 131.For a random sample of seven automobiles radar indicated the following speeds,in miles per hour: 80,74,69,78,87,72,and 70.Assuming a normal population distribution,find the margin of error of a 95% confidence interval for the mean speed of all automobiles traveling over this stretch of highway.

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Definitions:

Fill Handle

A feature in spreadsheet software allowing users to automatically extend a series of values or formulas into adjacent cells by dragging a small square handle.

Mouse Pointer

A graphical indicator on the screen used to show the position where mouse actions will take effect.

Column Heading

The label or title at the top of a column that indicates the type of data contained in the column.

Cell References

Indicators or addresses that identify individual cells in a spreadsheet, and are used in formulas to reference specific data.