1. An insurance company states that 70% of its claims are settled within 60days. A consumer group selected a random sample of 85 of thecompany's claims to test this statement. If the consumer group found that65 of the claims were settled within 60 days, do they have sufficientreason to support their contention that fewer than 70% of the claims aresettled within 60 days? Use 5% level of significance.Step 1: State the hypotheses.Step 2: The level of significance, one/two-tailed test, degrees of freedomStep 3: Statistical TestStep 4: ComputationStep 5: Decision RuleStep 6: Reject Ho or Failed to Reject HoStep 7: Conclusion

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Answered: 1. An insurance company states that 70%…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.04 margin of error at a 98% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.04 margin of error? Round your answer up to the nearest whole number. n = ___ households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of ˆp=0.235p^=0.235 . Using this new information. what sample size should you gather in order to obtain a 0.04 margin of error? Round your answer up to the nearest whole number. n = ___ households
You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.03 margin of error at a 80% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.03 margin of error? Round your answer up to the nearest whole number. n = _____households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of ˆp=0.2p^=0.2 . Using this new information. what sample size should you gather in order to obtain a 0.03 margin of error? Round your answer up to the nearest whole number. n = _____households
You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.02 margin of error at a 80% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.02 margin of error? Round your answer up to the nearest whole number. n = ___ households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of ˆp=0.235p^=0.235 . Using this new information. what sample size should you gather in order to obtain a 0.02 margin of error? Round your answer up to the nearest whole number. n = ____ households
You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.035 margin of error at a 80% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.035 margin of error? Round your answer up to the nearest whole number. n = households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of ˆp=0.225p^=0.225 . Using this new information. what sample size should you gather in order to obtain a 0.035 margin of error? Round your answer up to the nearest whole number. n = households
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You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.02 margin of error at a 90% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.02 margin of error? Round your answer up to the nearest whole number. n = households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of ˆp=0.22p^=0.22 . Using this new information. what sample size should you gather in order to obtain a 0.02 margin of error? Round your answer up to the nearest whole number. n = households
In a study of the amount of time to rebuild a transmission, the mean was μ=6.5 hours and the standard deviation was σ=1.8 hours. If n= 36 mechanics are randomly selected, find the probability that the sample mean ¯x rebuild time is greater than 7.5 hours. Pr⁡( ¯x≥7.5) assuming that rebuild times follow a normal distribution.
You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.035 margin of error at a 80% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.035 margin of error? Round your answer up to the nearest whole number. n = households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of ˆ p = 0.225 p ^ = 0.225 . Using this new information. what sample size should you gather in order to obtain a 0.035 margin of error? Round your answer up to the nearest whole number. n = households
You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.02 margin of error at a 95% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.02 margin of error? Round your answer up to the nearest whole number. n = ____ households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of ˆp=0.225p . Using this new information. what sample size should you gather in order to obtain a 0.02 margin of error? Round your answer up to the nearest whole number. n = ____ households
1- You want to construct a 99% confidence interval for the proportion of retail stores that went out of business due to the recent pandemic. You managed to collect a random sample of 93 retail stores and found 15% of them shut down permanently. Construct and interpret the confidence interval.
You work for a marketing firm that has a large client in the automobile industry. You have been asked to estimate the proportion of households in Chicago that have two or more vehicles. You have been assigned to gather a random sample that could be used to estimate this proportion to within a 0.025 margin of error at a 80% level of confidence. a) With no prior research, what sample size should you gather in order to obtain a 0.025 margin of error? Round your answer up to the nearest whole number. n = households b) Your firm has decided that your plan is too expensive, and they wish to reduce the sample size required. You conduct a small preliminary sample, and you obtain a sample proportion of p= 0.24. Using this new information. what sample size should you gather in order to obtain a 0.025 margin of error? Round your answer up to the nearest whole number. n = households > Next Question Galaxy S22 Ultra (

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