3. The production manager of a large manufacturing company estimates that the mean age of isemployees is 22.8 years. The treasurer of the firm needs a more accurate employee mean age figurein order to estimate the cost of an annuity benefit program being considered for employees. Thetreasurer takes a random sample of 70 workers and finds out that the mean age of the employeessampled is 26.2 years with a standard deviation of 4.6. At 0.01 level of significance, what can thetreasurer conclude about the accuracy of the production manager's estimate?

Answered: Image /qna-images/answer/2311ae02-a5f8-411b-935c-16530777816d.jpg

Answered: 3. The production manager of a large…

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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5. Old Faithful is a famous geyser at Yellowstone National Park. From a sample of 40 eruptions, the mean duration of Old Faithful eruptions is 3.7 minutes, and the standard deviation is 1.2 minutes. Find the percent of eruptions that have lasted from 1.3 minutes to 6.1 minutes.
A random sample of 160 commercial customers revealed that 32 had paid their accounts within a month of billing. Can normality be assumed for the sample proportion?
The National Coalition on Healthcare suggests that the mean annual premium that a health insurer charges an employer for a health plan covering a family of four averaged $13,000 in 2009. A sample of 30 families of four yields a mean annual premium paid by their employer to be $13,500 with a sample standard deviation of $300. We are interested in whether the mean annual premium that a health insurer charges an employer for a health plan covering a family of four is different from $13,000 using a significance level of 0.10. Select one: a. tdata = 9.129, do not reject Ho. b. tdata = 9.129, reject Ho. c. tdata = -9.129, do not reject Ho. O d. tdata = 4.156, reject Ho.
Suppose that the quarterly sales levels among health care information systems companies are approximately normally distributed with a mean of 9 million dollars and a standard deviation of 1.4 million dollars. One health care information systems company considers a quarter a "failure" if its sales level that quarter is in the bottom 10% of all quarterly sales levels. Determine the sales level (in millions of dollars) that is the cutoff between quarters that are considered "failures" by that company and quarters that are not. Carry your intermediate computations to at least four decimal places. Round your answer to one decimal place.
You have obtained the number of years of education from one random sample of 38 police officers from City A and the number of years of education from a second random sample of 30 police officers from City B. The average years of education for the sample from City A is 15 years with a standard deviation of 2 years. The average years of education for the sample from City B is 14 years with a standard deviation of 2.5 years. Is there a statistically significant difference between the education levels of police officers in City A and City B?What is the appropriate test for this case? 2 sample z-testChi-square test 2-sample t-test2 sample paired t-test Carry out the test. The test statistic = (round answer to two decimal places.)and the p-value is (round answer to 2 decimal places)There sufficient evidence at the 5% level to conclude that the education levels of police officers in City A and City B is significantly different.
It is calculated that, in order to estimate the true mean amount of money spent on textbooks this semester by U of M students to within $40 with 99% confidence, we need a sample of 100 students. What sample size would be required to estimate the true mean amount of money spent on textbooks to within $10 with 99% confidence?
Suppose that the City of Chicago is interested in potential revenues if they introduce a tolling station near O'Hare. Further suppose that the average time between cars is only 3.0 seconds; what is the average value of the distribution?
Suppose that the quarterly sales levels among health care information systems companies are approximately normally distributed with a mean of 8 million dollars and a standard deviation of 1.3 million dollars. One health care information systems company considers a quarter a "failure" if its sales level that quarter is in the bottom 10% of all quarterly sales levels. Determine the sales level (in millions of dollars) that is the cutoff between quarters that are considered "failures" by that company and quarters that are not. Carry your intermediate computations to at least four decimal places. Round your answer to one decimal place. 00 0 million dollars X S ? Check acer Q tab esc ! 1 9. a @ 2 W →> S #m 3 X e C d $ LAS 4 C r % 5 f t > < 6 g y & JX b 7 h C n K1300
In Professor Krugman’s economics course, the correlation between the students’ total scores prior to the final examination and their final‑examination scores is ?=0.5.r=0.5. The pre‑exam totals for all students in the course have mean 280280 and standard deviation 40.40. The final‑exam scores have mean 7575 and standard deviation 8.8. Professor Krugman has lost Julie’s ﬁnal exam but knows that her total before the exam was 300.300. He decides to predict her ﬁnal‑exam score from her pre‑exam total. (a) Which of the choices is the least‑squares regression line of ﬁnal‑exam scores on pre‑exam total scores in this course?
At the end of 2015, 2016, and 2017, the average prices of a share of stock in a portfolio were $34.83, $34.65, and $31.26 respectively. To investigate the average share price at the end of 2018, a random sample of 30 stocks was drawn and their closing prices on the last trading day of 2018 were observed with a mean of 33.583 and a standard deviation of 19.149. Estimate the average price of a share of stock in the portfolio at the end of 2018 with a 95% confidence interval. Compare and Briefly discuss
In Professor Krugman's economics course, the correlation between the students' total scores prior to the final examination and their final‑examination scores is ?=0.5.�=0.5. The pre‑exam totals for all students in the course have mean 280280 and standard deviation 40.40. The final‑exam scores have mean 7575 and standard deviation 8.8. Professor Krugman has lost Julie's ﬁnal exam but knows that her total before the exam was 300.300. He decides to predict her ﬁnal‑exam score from her pre‑exam total. © Macmillan Learning (a) What is the slope of the least-squares regression line of final-exam scores on pre-exam total scores in this course? Give your answer to one decimal place. slope: What is the intercept? Give your answer as a whole number. intercept:
Suppose that the quarterly sales levels among health care information systems companies are approximately normally distributed with a mean of 8vmillion dollars and a standard deviation of 1.1million dollars. One health care information systems company considers a quarter a "failure" if its sales level that quarter is in the bottom 15%of all quarterly sales levels. Determine the sales level (in millions of dollars) that is the cutoff between quarters that are considered "failures" by that company and quarters that are not. Carry your intermediate computations to at least four decimal places. Round your answer to one decimal place.

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