Years ago the company did an analysis of their entire customer base and found that the...
Years ago the company did an analysis of their entire customer base and found that the average income for their customers was $50,000. They believe that incomes of their current customers are significantly higher than that. Construct a 95% confidence interval for income for the customer group as a whole. With a mean of a 53719.6 and standard deviation of 16506.7 and a sample size of 180.
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Years ago the company did an analysis of their entire customer
base and found that the...
A survey of 25 randomly selected customers found that their average age was 31.84 years with...
A survey of 25 randomly selected customers found that their average age was 31.84 years with a standard deviation of 9.84 years. What would the critical value t* be for a 95% confidence interval with 99 degrees of freedom? What would the margin of error be for a 95% confidence interval for this data (with the sample size of 25)? Construct a 95% confidence interval for the mean age of all customers for this data (with the sample size of...
2. A simple random sample of size n is drawn. The sample mean I is found...
2. A simple random sample of size n is drawn. The sample mean I is found to be 53.1, and the sample standard deviation s is found to be 7.8 a) (3 points) Construct a 95% confidence interval for the population mean u if the sample size n is 81. b) (3 points) Construct a 95% confidence interval for the population mean u if the sample size n is 30. c) (3 points) Construct a 90% confidence interval for the...
A simple random sample of size n is drawn. The sample mean, x overbar, is found...
A simple random sample of size n is drawn. The sample mean, x overbar, is found to be 17.7, and the sample standard deviation, s, is found to be 4.2. Construct a 95% confidence interval about mu if the sample size, n, is 35.
Confidence Intervals 9. Construct a 95 % confidence interval for the population mean, . In a...
Confidence Intervals 9. Construct a 95 % confidence interval for the population mean, . In a random sample of 32 computers, the mean repair cost was $143 with a sample standard deviation of $35 (Section 6.2) Margin of error, E. <με. Confidence Interval: O Suppose you did some research on repair costs for computers and found that the population standard deviation, a,- $35. Use the normal distribution to construct a 95% confidence interval the population mean, u. Compare the results....
An IQ test is designed so that the mean is 100 and the standard deviation is...
An IQ test is designed so that the mean is 100 and the standard deviation is 17 for the population of normal adults. Find the sample size necessary to estimate the mean IQ score of statistics students such that it can be said with 90% confidence that the sample mean is within 6 IQ points of the true mean. Assume that o = 17 and determine the required sample size using technology. Then determine if this is a reasonable sample...
3 Construct a 90% confidence interval for the following random sample of Lucas Barrett's golf scores...
3 Construct a 90% confidence interval for the following random sample of Lucas Barrett's golf scores for a particular golf course he played so that he can figure out his true (population) aver 95 92 95 99 92 84 95 94 95 86 (hint: Use T-distribution table. Formula Interval estimate of a population mean when stan age score for the dared deviation is unknown) 4 The auto industry relies heavily on 0% financing to entice customers to purchase cars. In...
A simple random sample of size n is drawn. The sample mean, x, is found to...
A simple random sample of size n is drawn. The sample mean, x, is found to be 19.4, and the sample standard deviation, s, is found to be 4.9. Click the icon to view the table of areas under the t-distribution. (a) Construct a 95% confidence interval about if the sample size, n, is 35. Lower bound: :Upper bound: (Use ascending order. Round to two decimal places as needed.) (b) Construct a 95% confidence interval about if the sample size,...
A large company wants to estimate the average amount of money that is owed to it...
A large company wants to estimate the average amount of money that is owed to it by delinquent customers, µ. The mean of this sample is $230 and the standard deviation is $50. Construct a 95% and 99% confidence interval for the population parameter µ. This is the only information given. There is no sample size given.
5. The servicing time at the drive-through lane of a fast food restaurant follows an exponential distribution. The average servicing time is 2 minutes. (4 points) YORKVILLE BUSI 1013 statistics...
5. The servicing time at the drive-through lane of a fast food restaurant follows an exponential distribution. The average servicing time is 2 minutes. (4 points) YORKVILLE BUSI 1013 statistics for Business What is the probability that it takes more than 2.5 minutes to service a customer at the drive-through lane? b. a. What percent of customers at the drive-through lane will take between 1 to 3 minutes to service? Part B 1. A simple random sample of 50 customers...
A simple random sample of size n is drawn. The sample mean, x, is found to...
A simple random sample of size n is drawn. The sample mean, x, is found to be 19.4, and the sample standard deviation, s, is found to be 4.9. Click the icon to view the table of areas under the t-distribution. OC. The margin of error decreases. (c) Construct a 99% confidence interval about if the sample size, n, is 35. Lower bound: 17.14; Upper bound: 21.66 (Use ascending order. Round to two decimal places as needed.) Compare the results...
2. A simple random sample of size n is drawn. The sample mean I is found to be 53.1, and the sample standard deviation s is found to be 7.8 a) (3 points) Construct a 95% confidence interval for the population mean u if the sample size n is 81. b) (3 points) Construct a 95% confidence interval for the population mean u if the sample size n is 30. c) (3 points) Construct a 90% confidence interval for the...
Confidence Intervals 9. Construct a 95 % confidence interval for the population mean, . In a random sample of 32 computers, the mean repair cost was $143 with a sample standard deviation of $35 (Section 6.2) Margin of error, E. <με. Confidence Interval: O Suppose you did some research on repair costs for computers and found that the population standard deviation, a,- $35. Use the normal distribution to construct a 95% confidence interval the population mean, u. Compare the results....
An IQ test is designed so that the mean is 100 and the standard deviation is 17 for the population of normal adults. Find the sample size necessary to estimate the mean IQ score of statistics students such that it can be said with 90% confidence that the sample mean is within 6 IQ points of the true mean. Assume that o = 17 and determine the required sample size using technology. Then determine if this is a reasonable sample...
3 Construct a 90% confidence interval for the following random sample of Lucas Barrett's golf scores for a particular golf course he played so that he can figure out his true (population) aver 95 92 95 99 92 84 95 94 95 86 (hint: Use T-distribution table. Formula Interval estimate of a population mean when stan age score for the dared deviation is unknown) 4 The auto industry relies heavily on 0% financing to entice customers to purchase cars. In...
A simple random sample of size n is drawn. The sample mean, x, is found to be 19.4, and the sample standard deviation, s, is found to be 4.9. Click the icon to view the table of areas under the t-distribution. (a) Construct a 95% confidence interval about if the sample size, n, is 35. Lower bound: :Upper bound: (Use ascending order. Round to two decimal places as needed.) (b) Construct a 95% confidence interval about if the sample size,...
5. The servicing time at the drive-through lane of a fast food restaurant follows an exponential distribution. The average servicing time is 2 minutes. (4 points) YORKVILLE BUSI 1013 statistics for Business What is the probability that it takes more than 2.5 minutes to service a customer at the drive-through lane? b. a. What percent of customers at the drive-through lane will take between 1 to 3 minutes to service? Part B 1. A simple random sample of 50 customers...
A simple random sample of size n is drawn. The sample mean, x, is found to be 19.4, and the sample standard deviation, s, is found to be 4.9. Click the icon to view the table of areas under the t-distribution. OC. The margin of error decreases. (c) Construct a 99% confidence interval about if the sample size, n, is 35. Lower bound: 17.14; Upper bound: 21.66 (Use ascending order. Round to two decimal places as needed.) Compare the results...
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