Question

The U,S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 16...

The U,S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 16 people reveals the mean yearly consumption to be 60 gallons with a standard deviation of 20 gallons. Assume the population distribution is normal.
a. What is the value of the population mean? What is the best estimate of this value?
b. Explain why we need to use the t distribution. What assumption do you need to make?
c. For a 90% confidence interval, what is the value of t?
d. Develop the 90% confidence interval for the population mean.
e. Would it be reasonable to conclude that the population mean is 63 gallons?
0 0
Add a comment Improve this question Transcribed image text
Know the answer?
Add Answer to:
The U,S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 16...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The U.S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 11...

    The U.S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 11 people reveals the mean yearly consumption to be 54 gallons with a standard deviation of 15 gallons. Assume the population distribution is normal. a-1. What is the value of the population mean? Unknown 54 15 a-2. What is the best estimate of this value? Estimated population mean 54I c. For a 98% confidence interval, what is the value of t? (Round your answer to...

  • The U.S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 10...

    The U.S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 10 people reveals the mean yearly consumption to be 52 gallons with a standard deviation of 14 gallons. Assume the population distribution is normal.(Use tDistribution Toble) a-1, what is the value ofthe population mean? O Unknown 52 O 14 0-2 what is the best estimate of this value? stimated population c. For a 95% confidence interval, what is the value of e (Round your answer...

  • T Distribution Table The U.S. Dairy Industry wants to estimate the mean yearly milk consumption. A...

    T Distribution Table The U.S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 25 people reveals the mean yearly consumption to be 82 gallons with a standard deviation of 24 gallons. Assume that the population distribution is normal. (Use Distribution Table.) a-1. What is the value of the population mean? 82 24 Unknown a-2. What is the best estimate of this value? Estimate population mean c. For a 90% confidence interval, what is the value...

  • The Sugar Producers Association wants to estimate the mean yearly sugar consumption. A sample of 25...

    The Sugar Producers Association wants to estimate the mean yearly sugar consumption. A sample of 25 people reveals the mean yearly consumption to be 27 kg with a sample standard deviation of 9 kg. Assume a normal population. For a 95% confidence interval, what is the critical value needed?

  • 6. A health professional wishes to estimate the true mean yearly soda consumption (in gallons) of...

    6. A health professional wishes to estimate the true mean yearly soda consumption (in gallons) of U.S. adults. A sample of 35 adults was taken, and it was found that they consumed an average of 45.6 gallons of soda in one year. The standard deviation of the population is 3.5 gallons. We would like to construct a 95% confidence interval estimate for the true mean. a. What critical value will you use for a 95% confidence interval? Give the value...

  • Bob Nale is the owner of Nale’s Quick Fill. Bob would like to estimate the mean...

    Bob Nale is the owner of Nale’s Quick Fill. Bob would like to estimate the mean number of gallons of gasoline sold to his customers. Assume the number of gallons sold follows the normal distribution with a population standard deviation of 2.30 gallons. From his records, he selects a random sample of 70 sales and finds the mean number of gallons sold is 6.20. What is the point estimate of the population mean? (Round your answer to 2 decimal places....

  • The American Sugar Producers Association wants to estimate the annual mean sugar consumption per capita. A...

    The American Sugar Producers Association wants to estimate the annual mean sugar consumption per capita. A sample of 347 individuals had a mean of 61 pounds consumed per year, with a standard deviation of 19 pounds. Construct and interpret a 90 percent confidence interval for the true population mean of annual sugar consumption per capita.

  • 4. The department of HR at the University of Michigan wants to estimate the amount of...

    4. The department of HR at the University of Michigan wants to estimate the amount of an annual healthcare premium needed for an Assistant Professor as part of a new recruiting program. In a sample of 50 Assistant Professors, they found that the average yearly premium needed is $16,000 with a standard deviation of $3,500. (a) What is the population mean? What is the best estimate of the population mean? (b) Develop an 90% confidence interval for the population mean....

  • Goldman Sachs wants to estimate the amount of an annual healthcare premium needed for an econometrician...

    Goldman Sachs wants to estimate the amount of an annual healthcare premium needed for an econometrician as part of a new recruiting program. In a sample of 50 econometricians, they found that the average yearly premium needed is $16,000 with a standard deviation of $3,500. (a) What is the population mean? What is the best estimate of the population mean? (b) Develop an 90% confidence interval for the population mean. (c) Assuming a 99% level of confidence, how large of...

  • Goldman Sachs wants to estimate the amount of an annual healthcare premium needed for an econometrician...

    Goldman Sachs wants to estimate the amount of an annual healthcare premium needed for an econometrician as part of a new recruiting program. In a sample of 50 econometricians, they found that the average yearly premium needed is $16,000 with a standard deviation of $3,500. (a) What is the population mean? What is the best estimate of the population mean? (b) Develop an 90% confidence interval for the population mean. (c) Assuming a 99% level of confidence, how large of...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT