How much oil wells in a given field will ultimately produce is key information in deciding whether to drill more wells. Data was
collected estimating the total amount of oil recovered (in thousands of barrels) from 64 wells in the Devonian Richmond Dolomite area of the Michigan Basin. The data is in an Excel file on Canvas. Give a 95% confidence interval for the mean amount of oil recovered from all wells in this area.
DATA:
Oil
21.7
53.2
46.4
42.7
50.4
97.7
103.1
51.9
43.4
69.5
156.5
34.6
37.9
12.9
2.5
31.4
79.5
26.9
18.5
14.7
32.9
196
24.9
118.2
82.2
35.1
47.6
54.2
63.1
69.8
57.4
65.6
56.4
49.4
44.9
34.6
92.2
37
58.8
21.3
36.6
64.9
14.8
17.6
29.1
61.4
38.6
32.5
12
28.3
204.9
44.5
10.3
37.7
33.7
81.1
12.1
20.1
30.5
7.1
10.1
18
3
2
DATA:
Oil
21.7
53.2
46.4
42.7
50.4
97.7
103.1
51.9
43.4
69.5
156.5
34.6
37.9
12.9
2.5
31.4
79.5
26.9
18.5
14.7
32.9
196
24.9
118.2
82.2
35.1
47.6
54.2
63.1
69.8
57.4
65.6
56.4
49.4
44.9
34.6
92.2
37
58.8
21.3
36.6
64.9
14.8
17.6
29.1
61.4
38.6
32.5
12
28.3
204.9
44.5
10.3
37.7
33.7
81.1
12.1
20.1
30.5
7.1
10.1
18
3
2
1 answer:
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Answer:
Step-by-step explanation:
Given: On Monday, the closing value of a share of stock in Company ABC, was . On Tuesday, it closed at
, and on Wednesday, it closed at
. On Thursday, the change in stock value was
. And, on Friday, Company ABC's stock gained
points.
To Find: One shareholder owns shares of Company ABC's stock. What was the total value of their stock in this company at the close of Tuesday.
Solution:
Closing value of Shares of company ABC on Monday
Closing value of Shares of company ABC on Tuesday
Closing value of Shares of company ABC on Wednesday
on Thursday change in stock value was
Closing value of Shares of company ABC on Thursday
on Friday comapny's stock gained points
Closing value of Shares of company ABC on Friday
As one shareholder owns shares of company
Total value of shares on Tuesday is
Hence total value of shareholder's share on close of Tuesday is