A quality control technician is checking the weights of a product.She takes a random sample of 8 units and weighs each unit.The observed weights are shown below.Assume the population has a normal distribution.
Provide a 95% confidence interval for the mean weight of the units.
Definitions:
Discount Rate
In the context of discounted cash flow analysis, it's the rate used to determine the present market value of anticipated cash flows.
Payments
The transfer of money, or its equivalent, from one party to another as a fulfillment of an obligation or for the purchase of goods or services.
Yearly
Relating to or happening every year; annual.
Borrow
The act of receiving something with the intention of returning it or its equivalent to the owner at a later date.
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