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INTERVAL ESTIMATION TASK PROBLEMS LARGE SAMPLES

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An auditor wants to estimate how many accounting errors There is a population of financial reports. Select a sample of 500 Report and find an average of 65 errors with a standard deviation of 5 errors. With this information: a) Construct an estimation interval for the population mean with a confidence level of 95% b) Determine how interval precision is affected if the standard deviation is 10 errors, all else constant. c) Determine how interval precision is affected if this time the sample size is 200 reports, all else constant. d) Determine an estimated point for the population average
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PROBLEMA 1 An auditor wants to estimate how many accounting errors There is a population of financial reports. Select a sample of 500 Report and find an average of 65 errors with a standard deviation of 5 errors. With this information: a) Construct an estimation interval for the population mean with a confidence level of 95% b) Determine how interval precision is affected if the standard deviation is 10 errors, all else constant. c) Determine how interval precision is affected if this time the sample size is 200 reports, all else constant. d) Determine an estimated point for the population average PROBLEMA 2 NUMBER OF CHILDREN 3 With a 90% confidence level, build an estimation interval for the population average 2 4 2 1 0 0 3 3 2 4 5 3 2 3 5 4 5 3 1 1 3 4 3 4 0 1 5 1 2 2 1 2 3 3 5 3 3 2 4 3 2 5 2 2 0 3 3 3 3 2 0 0 0 0 0 5 2 1 2 1 1 1 2 4 2 5 5 0 1 1 4 0 0 0 4 5 1 0 4 0 3 1 4 0 3 1 4 1 0 0 4 1 1 5 4 0 5 2 0 1 1 2 0 5 2 0 2 4 3 5 4 2 0 2 1 3 2 1 0 4 4 0 5 4 0 2 0 4 0 3 4 3 5 3 4 1 4 5 4 5 5 4 1 1 4 3 3 4 3 2 2 5 0 3 5 1 3 2 4 2 4 2 4 3 2 0 4 1 1 4 3 1 3 0 1 0 4 2 0 2 5 5 0 4 0 2 1 2 2 3 5 3 1 4 0 5 4 0 0 0 1 5 4 2 4 5 4 2 3 3 5 5 4 4 5 4 5 0 0 3 4 2 0 5 0 2 0 5 4 1 4 3 1 0 2 0 0 0 2 3 3 5 5 1 2 3 0 0 4 3 2 5 2 5 1 2 0 2 3 1 1 0 2 5 4 1 4 5 3 1 3 1 4 2 4 3 1 0 2 1 1 0 1 3 1 4 3 4 0 2 2 2 1 3 2 4 1 1 3 1 1 5 3 0 3 1 4 1 2 0 0 4 2 4 3 1 3 2 5 0 5 5 5 3 4 2 0 4 2 3 5 2 2 0 5 0 3 0 5 1 1 2 2 5 0 3 3 3 1 1 1 2 3 0 1 1 4 0 5 5 5 2 2 5 1 3 4 1 0 2 1 3 0 2 0 3 5 4 3 2 3 3 5 1 4 5 0 5 2 0 0 3 3 2 4 5 4 5 1 4 2 3 1 4 2 4 1 0 5 1 1 2 4 5 0 0 3 5 4 5 5 3 1 4 1 2 2 2 0 3 1 0 1 2 5 0 1 0 4 0 2 4 3 2 2 0 3 4 1 0 2 2 2 1 0 3 1 4 2 1 3 3 1 1 2 2 2 1 4 3 2 0 5 5 2 4 4 1 0 3 3 0 3 0 1 4 0 1 0 4 0 5 0 1 4 1 5 3 4
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