QUESTION 1A hardware store determined the current balances for a random sample of 100 customers with non-zero balances. The sample mean of the amountowed was $100.00 and the standard deviation was $25. Use the assumption that the sample standard deviation is equal to the population standarddeviation.You are asked to find a confidence interval for the average amount owed by all customers with a non-zero balance.Which Minitab procedure would be most appropriate to use for this task?O Power and Sample Size/1-Sample ZO Power and Sample Size/Sample Size for Estimation/1-Sample ZO Basic Statistics/1-Sample ZO Basic Statistics/1-Sample t

In this study, the sample size is 100, sample mean is $100, and standard deviation is $25. The…

Answered: A hardware store determined the current…

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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A sample of 134 motels is selected from a large urban area and the price for a night of lodging for a single room was determined for each motel. The mean rate is computed to be $87 and the standard deviation is $14. One motel charged $57 per night which is the 13th percentile. Another motel charged $118 per night which is the 75th percentile. Step 3 of 4 : One of the motels was 1.3 standard deviations below the mean, what is the price of a single room at the motel? Round your answer to two decimal places.
An analyst found that the average amount of money in bank accounts at his/her bank is $2,000 with a standard deviation of $150. What would be the variance?
Loretta, who turns 91 this year, has heard that the mean systolic blood pressure among the elderly is 120 millimeters of mercury (mm Hg), but she believes that the actual value is higher. She bases her belief on a recently reported study of 19 randomly selected, elderly adults. The sample mean systolic blood pressure of the adults in the study was 121 mm Hg , and the sample standard deviation was 20 mm Hg. Assume that the population of systolic blood pressures of elderly adults is normally distributed. Based on the study, at the 0.1 level of significance, can it be concluded that μ , the mean systolic blood pressure among elderly adults, is greater than 120 mm Hg? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places and round your answers as specified in the table. (a) State the null hypothesis H0? and the alternative hypothesis H1? . H0:? H1:? (b) Determine the type of test statistic to…
You are testing the claim that the mean GPA of night students is different from the mean GPA of day students. You sample 30 night students, and the sample mean GPA is 2.83 with a standard deviation of 0.94. You sample 55 day students, and the sample mean GPA is 2.97 with a standard deviation of 0.92. Test the claim using a 1% level of significance. Assume the population standard deviations are unequal and that GPAs are normally distributed. Give answer to at least 4 decimal places. What are the correct hypotheses?H0: Select an answer μ σ² μ₂ p μ₁ x̄₂ s² x̄₁ = Select an answer μ x̄₂ σ² μ₂ x̄₁ μ₁ s² p H1: Select an answer σ² μ x̄₁ s² p x̄₂ μ₁ μ₂ ? = < > ≤ ≠ ≥ Select an answer μ x̄₂ x̄₁ μ₂ σ² s² μ₁ p Based on the hypotheses, find the following:Test Statistic = Critical Values = ±± (Just enter the positive CV.)The correct decision is to Select an answer Reject the null hypothesis Fail to reject the null hypothesis The correct summary would be: Select an answer There is not enough…
You are conducting an experiment to examine the anxiety level of a group of Design Technology students. The population standard deviation o=4.8. You compute the mean and standard deviation of your sample and find that sample mean = 25.9 and sample standard deviation s = 5.3. What is the standard error of the sample mean if your sample size is 36? Give your answer to 2 decimal places.
A random sample of 64 shoppers showed that they spend an average of $27.31 per visit at the Sunday Mornings Bookstore. The standard deviation of the population is $2.14. Find the 90% confidence interval of the true mean. Please include all work showing how you found your answer.
Deanna is the principal at a Midwestern middle school and wants to know the average IQ of all female, seventh grade students. She does not know anything about what the population distribution looks like. She took a simple random sample of 31 seventh-grade girls in her school and found the average IQ score in her sample was 105.8 and the standard deviation was 15. Using the sample standard deviation above to estimate the population standard deviation, what is the minimum sample size needed for a 99.5% confidence interval to have a margin of error of no more than 2.3?

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