4. The accounting firm of Nancy Amari & Associates (NAA) was commissioned to audit a population of
500 accounts. For this audit, NAA selected a simple random sample of 64 accounts. The sample
showed an average discrepancy of $120 with a standard deviation of $24.
Estimate the population total discrepancy.
Develop an approximate 95% confidence interval for the population total discrepancy.
5. A university has 5,000 students. The manager of food services at the university is interested in
determining the total lunch expenditure. A simple random sample of 121 lunch receipts was selected.
The sample showed an average of $3 with a standard deviation of $0.40.
Estimate the standard error of the sample mean.
Develop an approximate 95% confidence interval for the population mean.
Estimate the population’s total expenditure for lunch.
Develop an approximate 95% confidence interval for the total expenditure for lunch.
6. A simple random sample of size 36 is selected from a population of size 750. The sample mean is 318,
and the sample standard deviation is found to be 30.
Estimate the standard error of the mean.
Develop an approximate 95% confidence interval for the population mean.
7. A company has 600 employees. A random sample of 49 employees took a computer literacy test. The
sample resulted in a mean score of 75 with a standard deviation of 21.
Estimate the standard error of the mean.
Develop an approximate 95% confidence interval for the population mean of the 600
employees.