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Installation of a certain hardware takes a random amount of time with a standard deviation of 7 minutes. A computer technician installs this hardware on 50 different computers. These times are given in the accompanying dataset. Compute a 95% confidence interval for the mean installation time. Round your answers to two decimal places and use ascending order. 21 37 36 34 46 38 30 30 37 46 54 47 34 25 60 46 50 56 24 59 31 51 52 34 59 37913856248111505 24534545545333463

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GopinathS

The mean installation time is either (40.78 or 44.66)

What is mean?

Mean is an essential mathematical and statistical concept. The mean is the average or most frequent value among a set of numbers.

It is a measure of the central tendency of a probability distribution based on the median and the mode. It is also known as the expected value.

It is a statistical concept with significant importance in finance. The concept is utilized in a variety of financial fields, such as portfolio management and business valuation.

Calculation:

  • From data [tex]mean = \frac{summation(x)}{n}[/tex] = [tex]42.72[/tex] from the all data given.
  • 95% confidence interval for u
  • {[tex]{\alpha =0.005, Z_{0.025} =1.96}[/tex]} and mean±[tex]Z\alpha _{12} \frac{sigma}{\sqrt{n} }[/tex] =[tex]42.72[/tex]±[tex]1.96.\frac{7}{\sqrt{50} }[/tex]
  • Therefore the mean installation times are either 40.78 or 44.66.

The mean installation time is either (40.78 or 44.66)

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