The national average cost of cable TV bills was reported as $99. You collect a random sample of 75 people in your town a...
The national average cost of cable TV bills was reported as $99. You collect a random sample of 75 people in your town and find the average cable bill is $103 with a standard deviation of $13.50. You want to compute a 99% confidence interval estimate for the mean difference between the national average and your town average. What is the margin of error?
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The national average cost of cable TV bills was reported as $99. You collect a random sample of 75 people in your town a...
The national average cost of cable TV bills was reported as $99. You collect a random...
The national average cost of cable TV bills was reported as $99. You collect a random sample of 75 people in your town and find the average cable bill is $103 with a standard deviation of $13.50. You want to compute a 99% confidence interval estimate for the mean difference between the national average and your town average. What is 99% confidence interval?
You want to estimate the mean salary of people in a country, so you take a random sample of 81 people from around the country
You want to estimate the mean salary of people in a country, so you take a random sample of 81 people from around the country. The sample had an average salary of 8450.00 dollars with population standard deviation of 500.00 dollars. Calculate the Lower Limit of the 99% confidence interval for the mean salary of the people in the country. Reminder: You only need to calculate the Lower Limit of the confidence interval. _______
You collect a random sample of size n from a population and calculate a 98% confidence...
You collect a random sample of size n from a population and calculate a 98% confidence interval. Which of the following strategies produces a new confidence interval with a decreased margin of error? A.) Use a 99% Confidence level B.)Use a 95% confidence level C.)Decrease Sample Size D.)Use the same confidence level but compute the interval n time. Approximately 2% of these intervals will be larger. E.)Nothing can guarantee that you will obtain a larger margin of error. You can...
An economist would like to estimate the 99% confidence interval for the average real estate taxes...
An economist would like to estimate the 99% confidence interval for the average real estate taxes collected by a small town in California. In a prior analysis, the standard deviation of real estate taxes was reported as $1,520. [You may find it useful to reference the z table.] What is the minimum sample size required by the economist if he wants to restrict the margin of error to $660? (Round intermediate calculations to at least 4 decimal places and "z"...
Alarmed at the rising levels of mercury in your town, you decide to estimate the average...
Alarmed at the rising levels of mercury in your town, you decide to estimate the average level in the water supply. From your sample of 25 locations, you calculate a 90% confidence interval of (1.99, 2.11). What is the margin of error in estimating the population mean? (A) 2.05 (B) 0.06 (C) 1.06 (D) 0.12 (7) Alarmed at the rising levels of mercury in your town, you decide to estimate the average level in the water supply. You take samples...
A random sample of 10 pickup trucks in your fleet shows that trucks are driven an...
A random sample of 10 pickup trucks in your fleet shows that trucks are driven an average of 23,500 miles per year with a standard deviation of 3,900 miles. a. Construct the 99 percent confidence interval for the average number of miles per year a truck in your fleet is driven. b. What can you assert with 99 percent confidence about the possible size of your error if you estimate the distance driven to be 23,500 miles per year?
Q4) A national air traffic control system handled an average of 47,665 flights during 29 randomly...
Q4) A national air traffic control system handled an average of 47,665 flights during 29 randomly selected days in a recent year. The standard deviation for this sample is 6,208 flights per day. Complete parts a through c below. a. Construct a 99% confidence interval to estimate the average number of flights per day handled by the system. The 99% confidence interval to estimate the average number of flights per day handled by the system is from a lower limit...
1. A random sample of 82 customers, who visited a department store, spent an average of...
1. A random sample of 82 customers, who visited a department store, spent an average of $71 at this store. Suppose the standard deviation of expenditures at this store is O = $19. What is the e 98% confidence interval for the population mean? 2. A sample of 25 elements produced a mean of 123.4 and a standard deviation of 18.32 Assuming that the population has a normal distribution, what is the 90% confidence interval for the population mean? 3....
Question:The average cost per night of a hotel room in New York City is $472. Assume...
Question:The average cost per night of a hotel room in New York City is $472. Assume this estimate is based on a sample of 75 hotels and that the sample standard deviation is $54. a. At 90% confidence, what is the interval estimate for the population mean? b. At 95% confidence, what is the interval estimate for the population mean? c. At 99% confidence, what is the interval estimate for the population mean? d. Describe the effect of a higher...
We want to know the average number of hours financial advisors in your area work a...
We want to know the average number of hours financial advisors in your area work a month. You survey 76 random advisors and find the average hours they work per month is 189. You also believe that the population standard deviation is 20 hours a month. Give a 99% confidence interval for the estimated average number of hours financial advisors work per month. Confidence Interval Estimate for the Mean Data Population Standard Deviation 20 Sample Mean 189 Sample Size 76...
1. A random sample of 82 customers, who visited a department store, spent an average of $71 at this store. Suppose the standard deviation of expenditures at this store is O = $19. What is the e 98% confidence interval for the population mean? 2. A sample of 25 elements produced a mean of 123.4 and a standard deviation of 18.32 Assuming that the population has a normal distribution, what is the 90% confidence interval for the population mean? 3....
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