A discount stock brokerages firm wants to know how big a sample should be taken from their customer list of 10,000 in order to know the mean dollar withdrawals from any single account in January. January is a big month for buying stocks for company mutual funds and the company wants to plan how much is leaking out their total value of their accounts. The standard deviation of withdrawals has been a steady $10,000 for five years; the brokerage firm would like to know the average amount within $2,000. The brokerage firm is satisfied a %90 confidence level will give them a satisfactory sample sized. Would the sample size necessarily increase or decrease if the firm decide it wanted a %95 level of confidence?

Q: Micheal invested $2000 in a certain stock. At the end of the year the stock could be worth $1600,…

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Q: The mean assessed value of homes in Southern County is $158,000 with a standard deviation of…

A: Old mean = E(X) = 158000 Old SD = SD(X) = 32000

Q: A stock’s price fluctuations are approximately normally distributed with a mean of $26.94 and a…

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A:

Q: You are told that the mean income for graduating seniors is $58,500 with a standard deviation of…

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A:

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Q: pose that we ding costs in the Caribbean deviation of $975. Estimate the percentage of Caribbean…

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A:

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A:

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A:

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.