318,000 tems mailed between Dec. 10 and Mar. 3- the most difficult delivery seas

Question

318,000 tems mailed between Dec. 10 and Mar. 3- the most difficult delivery season due to bad weather and holidays the accounting firm determined that 243,800 An accounting firm annually monitors a certain mailing service's performance. One parameter of interest is the percentage of mail delivered on time. In a sample of items were deilivered on time. Use this information to make a statement about the likelihood of an item being delivered on time by that mailing service Assurring a co fde ce vol of 95%, the kelihood of an item ber g delivered on time when it was mailed between Dec. 10ard Mar. 3 is in the neral( (Round to four decimal places as needed) ).

Explanation / Answer

For constructing Confidence interval, For (1-alpha) CI, alpha = 0.05 z(alpha/2) = z(0.025) = 1.96 Margin of Error (ME) = z x SD = 1.96*0.00075 = 0.0015 95% confidence interval is given by: Sample Mean +/- (Margin of Error) 0.7667 +/- 0.0015 = (0.7652 , 0.7682)

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