A large costruction firm has 120 houses in various stages of completion. For estimation of he total dollar amount to be listed as inventory of construction in progress, a simple random ample of 12 of these houses is selected and accumulated costs determined on each. Assume the following costs were obtained for the 12 sample houses: 35500. 36400 32600 38200 30200 29800 26400 32200 28900 34100 38000 27500. a) Estimate the total accumulated cost per 120 hour and place a bound on the error of estimation.
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A large costruction firm has 120 houses in various stages of completion. For estimation of he total dollar amount to be listed as inventory of construction in progress, a simple random ample of 12 of these houses is selected and accumulated costs determined on each. Assume the following costs were obtained for the 12 sample houses: 15500 16400 10200 8900 9800 14100 12600 6400 18000 18200 12200 7500 a) Estimate the mean accumulated cost per house and place a bound on the error of estimation. b) Detemine the sample size required to estimate the population mean with a bound on the error of estimation of 2500 Estimate the total agoun lated
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