A large bank wants to estimate the average amount of days delinquent for auto loan accounts arelate during the past year. A random sample of 225 customers files for this time period yielded asample mean of 64 days and a standard deviation of 28.5 days. What sample size would benecessary to estimate the mean amount of days delinquent for auto loan accounts during the pastyear to within 2 days with 95% confidence?Remember, sample size is a WHOLE NUMBER.

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Answered: A large bank wants to estimate the…

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 half-century ago, the mean height of women in a particular country in their 20s was 62.3inches. Assume that the heights of today's women in their 20s are approximately normally distributed with a standard deviation of 2.25inches. If the mean height today is the same as that of a half-century ago, what percentage of all samples of 29of today's women in their 20s have mean heights of at least 63.41 inches?
A half-century ago, the mean height of women in a particular country in their 20s was 62.4 inches. Assume that the heights of today's women in their 20s are approximately normally distributed with a standard deviation of 1.67 inches. If the mean height today is the same as that of a half-century ago, what percentage of all samples of 27 of today's women in their 20s have mean heights of at least 63.02 inches? About% of all samples have mean heights of at least 63.02 inches. (Round to one decimal place as needed.)
Nikita is a government official looking to find evidence on whether the mean taxable income for an individual taxpayer in the region dropped since the previous year. She surveyed 32 individual taxpayers in the region and found the taxable income of each individual as shown in the data set provided. Instead of using the standard deviation from the survey, Nikita decided to use the census data for the region to assume that the population standard deviation of income is $26,744. The mean taxable income in the region was $62,712 for the previous year. (a) H0:μ=$62,712;Ha:μ<$62,712, which is a left-tailed test. (b) Taxable income of each individual is given below. Use Excel to test whether this year's mean taxable income for an individual taxpayer in the region is less than the mean taxable income from the previous year, and then draw a conclusion in the context of the problem, where α=0.10. Calculate the test statistic, z, rounding to two decimal places, and the p-value, rounding…
When Emma commutes to work, the amount of time it takes her to arrive is normally distributed with a mean of 53 minutes and a standard deviation of 5 minutes. What percentage of her commutes will be shorter than 62 minutes, to the nearest tenth? Statistics Calculator
Suppose that shoe sizes of American women have a bell-shaped distribution with a mean of 8.4 and a standard deviation of 1.51. Using the empirical rule, what percentage of American women have shoe sizes that are between 5.38 and 11.42?
pizza delivery chain advertises that it will deliver your pizza in 35 minutes from when the order is placed. Being a skeptic, you decide to test and see if the mean delivery time is actually more than 35 minutes. For the simple random sample of 7 customers who record the amount of time it takes for each of their pizzas to be delivered, the mean is 39.4 minutes with a standard deviation of 5.5 minutes. Assume that the population distribution is approximately normal. Perform a hypothesis test using a 0.025 level of significance. Step 3 of 3 : Draw a conclusion and interpret the decision.
The honors program at Brad's university only accepts students with an entrance exam score over 400. What percentage of students would be eligible if the students at Brad's school have an average exam score of 250, with a standard deviation of 80?
a Leche League International reports that the mean age of weaning a child from breastfeeding is age four to five worldwide. In America, most nursing mothers wean their children much earlier. Suppose a random survey is conducted of 21 U.S. mothers who recently weaned their children. The mean weaning age was 9 months (3/4 year) with a standard deviation of 2 months. Conduct a hypothesis test to determine if the mean weaning age in the U.S. is less than four years old. Conduct a hypothesis test at the 5% level. a. What is the p-value? (Round your answer to four decimal places.) b. What is the test statistic
If the standard deviation of the whole national accounting examination is 30 for this year, how large a sample is needed to estimate the true mean score within 5 points with 99% confidence? Assume the population is normally distributed.
A random sample of 18 light bulbs is drawn from a normally distributed population. The population has mean and standard deviation are 517 hours and 39 hours, respectively. What is the mean of the sampling distribution the sample mean?
According to a study of TV viewing habits, the average number of hours an American over the age of 2 watches TV per week is 44. The population standard deviation is 16 hours. If a sample of 64 Americans over the age of 2 are randomly selected, what is the standard error of the mean?
The principal at Riverside High School would like to estimate the mean length of time each day that it takes all the buses to arrive and unload the students. What is the minimum sample size needed if the principal would like to be 90% confident that the sample mean is off by, at most, 2 minutes. Assume that standard deviation is 14 minutes. (Approximate the final answer)

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