A company has determined that the mean number of days it takes to collect on its accounts receivable is 36 with a standard deviation of 11 days. The company plans to select a random sample of n = 12 accounts and compute the sample mean.
Which of the following statements holds true in this situation?A) There is no way to determine what the mean of the sampling distribution is without knowing the specific shape of the population.
B) The sampling distribution will have the same distribution as the population, provided that the population is not normally distributed.
C) The sampling error will be larger than if they had sampled n = 64 accounts.
D) The sampling distribution may actually be approximately normally distributed depending on what the population distribution is.
Q. 2When using the t-distribution in a hypothesis test, the population does not need to be assumed normally distributed.
Indicate whether the statement is true or false
Q. 3The time required to assemble two components into a finished part is recorded for each employee at the plant. The resulting random variable is an example of a continuous random variable.
Indicate whether the statement is true or false
Q. 4Which of the following is true about the difference between stem and leaf diagrams and histograms?
A) There is no difference.
B) The stem and leaf diagram shows more information by showing the individual values.
C) The histogram shows the shape center and spread of the distribution while the stem and leaf does not.
D) The stem and leaf diagram shows less information than a histogram.
Q. 5A local medical center has advertised that the mean wait for services will be less than 15 minutes. In an effort to test whether this claim can be substantiated, a random sample of 100 customers was selected and their wait times were recorded.
The mean wait time was 17.0 minutes. Based on this sample result, there is sufficient evidence to reject the medical center's claim. Indicate whether the statement is true or false
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