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The British Oil Company wants to estimate the mean yearly oil production

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The British Oil Company wants to estimate the mean yearly oil production having a standard deviation of 20 barrels. A sample of 10 units reveals the mean yearly production to be 10 barrels. (10)

a. What is the value of population mean? What is the best estimate of this value?

b. Develop the 90 percent confidence interval for the population mean.

c. Would it be reasonable to conclude that the population mean is 10 barrels?

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[Solved] The British Oil Company wants to estimate the mean yearly oil production

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