27)
For 90%
sample mean, xbar = 1343.04
sample standard deviation, s = 414.04
sample size, n = 21
degrees of freedom, df = n - 1 = 20
Given CI level is 90%, hence α = 1 - 0.9 = 0.1
α/2 = 0.1/2 = 0.05, tc = t(α/2, df) = 1.725
ME = tc * s/sqrt(n)
ME = 1.725 * 414.04/sqrt(21)
ME = 155.855
For 95%
sample mean, xbar = 1343.04
sample standard deviation, s = 414.04
sample size, n = 21
degrees of freedom, df = n - 1 = 20
Given CI level is 95%, hence α = 1 - 0.95 = 0.05
α/2 = 0.05/2 = 0.025, tc = t(α/2, df) = 2.086
ME = tc * s/sqrt(n)
ME = 2.086 * 414.04/sqrt(21)
ME = 188.472
False, BOE would be larger
13)
FAlse, This is a one tailed test
28)
std.errro = s/sqrt(n)
= 411.53/sqrt(14)
= 109.986
Question 13 3 pts Question 28 3 pts Small Sample Mean Problem. A study was done...
Question 28 3 pts Small Mean Problem. Grandfather clocks have a particular market in auctions. One theory about the price at an auction is that it is higher when there are 10 or more bidders. From published data, the average price of all grandfather clocks is given as $1,327. You are not given a standard deviation for all clocks. You are given a random sample of 14 purchases of grandfather clocks at auctions in Pennsylvania where there are 10 or...
Question 28 3 pts Small Mean Problem. Grandfather clocks have a particular market in auctions. One theory about the price at an auction is that it is higher when there are 10 or more bidders. From published data, the average price of all grandfather clocks is given as $1,327. You are not given a standard deviation for all clocks. You are given a random sample of 14 purchases of grandfather clocks at auctions in Pennsylvania where there are 10 or...
Question 27 3 pts Small Mean Problem. Grandfather clocks have a particular market in auctions. You are given a random sample of 21 purchases of grandfather clocks at auctions in Pennsylvania. The sample statistics are: • Mean = $1,343.04 • Std Dev = $414.04 • C.V. = 30.83 • N = 21 You are asked to create a 90% Confidence Interval around the price for this sample. The t-value you would use is? I just want the answer. Use 3...
Question 28 3 pts Small Mean Problem. Grandfather clocks have a particular market in auctions. One theory about the price at an auction is that it is higher when there are 10 or more bidders. From published data, the average price of all grandfather clocks is given as $1,327. You are not given a standard deviation for all clocks. You are given a random sample of 14 purchases of grandfather clocks at auctions in Pennsylvania where there are 10 or...
small mean problem. grandfather c Question 28 Small Mean Problem. Grandfather clocks have a particular market in auctions. One theory about price at an auction is that it is higher when there are 10 or more bidders. From published data, the average price of all grandfather clocks is given as $1,327. You are not given a standard deviation fo clocks. You are given a random sample of 14 purchases of grandfather clocks at auctions in Pennsyl where there are 10...
Small Mean Problem. Grandfather clocks have a particular market in auctions. One theory about the price at an auction is that it is higher when there are 10 or more bidders. From published data, the average price of all grandfather clocks is given as $1,327. You are not given a standard deviation for all clocks. You are given a random sample of 14 purchases of grandfather clocks at auctions in Pennsylvania where there are 10 or more bidders. Assume your...
Small Mean Problem. Grandfather clocks have a particular market in auctions. One theory about the price at an auction is that it is higher when there are 10 or more bidders. From published data, the average price of all grandfather clocks is given as $1,327. You are not given a standard deviation for all clocks. You are given a random sample of 14 purchases of grandfather clocks at auctions in Pennsylvania where there are 10 or more bidders. Assume your...
Small Mean Problem. Grandfather clocks have a particular market in auctions. One theory about the price at an auction is that it is higher when there are 10 or more bidders. From published data, the average price of all grandfather clocks is given as $1,327. You are not given a standard deviation for all clocks. You are given a random sample of 14 purchases of grandfather clocks at auctions in Pennsylvania where there are 10 or more bidders. Assume your...
Small Sample Mean Problem. A study was done to determine the effect of vitamin supplements for the mother on the birth weight of babies. The sample size was 17. All the women in the study regularly visited a doctor during their pregnancy. The data below show the summary statistics and a stem and leaf plot of the birth weight of the 17 babies. Weight is in kilograms (kg) Leaf Stem Mean 3.761 2 47 2* 54 3 02 22 39...
Small Sample Mean Problem. A study was done to determine the effect of vitamin supplements for the mother on the birth weight of babies. The sample size was 17. All the women in the study regularly visited a doctor during their pregnancy. The data below show the summary statistics and a stem and leaf plot of the birth weight of the 17 babies. Weight is in kilograms (kg). Stem Leaf 2 47 2* 54 3 02 22 39 43 3*...