A Manufacturer of Power Tools Claims That the Average Amount

question 27

Short Answer

A manufacturer of power tools claims that the average amount of time required to assemble their top-of-the-line table saw is 80 minutes with a standard deviation of 40 minutes.
-Suppose a random sample of 64 purchasers of this table saw is taken.So,95% of the sample means based on samples of size 64 will be between ___________and _____________.

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Definitions:

Betterments

Improvements made to a property or asset that increase its value or productivity.

Plant Asset

Plant asset is a long-term physical asset used in the production process of a company, such as machinery, buildings, and equipment.

Revenue Expenditures

Expenses that are directly matched with revenues for a specific period, typically affecting the income statement immediately.

Units-of-production

A depreciation method that allocates the cost of an asset over its useful life based on the amount of production the asset is capable of.