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Sampling
A manufacturing company's quality control personnel have recorded the proportion of defective
items for each of 500 monthly shipments of one of the computer components that the company produces.
See data below.
The company doesn't have time to review all of these.
(a) Use MS Excel to generate a random sample of 25 from the 500.
(b) Computer the point estimate of the mean.
(c) Compute a 90% confidence interval of the mean.
(d) Compute a 99% confidence interval of the mean.
(e) Chart the 90% and 99% confidence intervals using the stock chart (high-low-close).
(f) Repeat (c) through (e) for a random sample of 50.
(g) Comment on the differences in confidence intervals.
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