As part of BEEPS, firms answered the question, \"How many days does it take to t
ID: 2936796 • Letter: A
Question
As part of BEEPS, firms answered the question, "How many days does it take to transfer money through the financial system to a supplier in another country?" For the sample of 36 firms in Romania, the sample mean x was 8.5 days, and the sample standard deviation s was 6.6 days. The standard deviation of the population distribution is unknown, but you are willing to assume that the population distribution is not highly skewed and contains no outliers. To develop a 959% confidence interval estimate of the mean number of days it takes to transfer money to a foreign supplier in Romania, use the t distribution with 25 degrees of freedom standard normal distribution Use the Distributions tool to d t distribution transfer money to a foreign sbpperm Romana of freedom money to a foreign suppirer na xoirma with 36 degrees of freedom pr the mean number of days it takes to Select a Distribution Distributions You are 95% confident that the mean wait time to transfer money to a foreign supplier in Romania is betweenExplanation / Answer
Given sample mean =8.5 days
sample standard deviation s = 6.6 days
sample size n=36
The population standard deviation is unknown
According to central limit theorem, if sample size n>30 distributions tends to normal
Hence the distribution used here is Standard Normal Distribution
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