A magazine published data on the best small firms in a certain year. These were firms that had been publicly traded for atleast a year, have a stock price of at least $5 per share, and have reported annual revenue between $5 million and $1billion. The table below shows the ages of the corporate CEOS for a random sample of these firms.4959955557577483455263 53574761 6260 6063 5760 55504655494967 55Use this sample data to construct a 90% confidence interval for the mean age of CEO's for these top small firms. Use theStudent's t-distribution. (Round your answers to two decimal places.)

Sample size (n) = 30Confidence level = 90%

Answered: A magazine published data on the best…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

The weights (in pounds (lb)) of 52 randomly selected NFL football players are presented below. 305 265 287 285 290 235 300 230 195 236 244 194 190 307 218 315 265 210 194 216 255 300 315 190 185 183 313 246 212 201 308 270 241 242 306 237 315 215 200 295 187 204 257 185 255 318 230 316 200 324 245 185 We would like to construct a 90% confidence interval for the mean weight of NFL football players. Explain why it is not necessary to assess normality for this sample Write an interpretation for your confidence interval, including units if appropriate. You may round the upper and lower limits to the nearest whole number. Does the confidence interval estimate the mean weight for the sample of 52 NFL players or for the population of NFL players? Explain.
Suppose a group is interested in determining whether teenagers obtain their drivers license at approximately the same average age across the country. Five teenagers from each region of the country were randomly selected. The data collected is their age at which the teenagers obtained their drivers licenses and is summarized in the table below. Test the hypothesis that the five regions produce the same mean average for a teenage driver’s license. Northeast South West Central East 16.3 16.9 16.4 16.2 17.1 16.1 16.5 16.5 16.6 17.2 16.4 16.4 16.6 16.5 16.6 16.5 16.2 16.1 16.4 16.8 (a)What are the hypotheses? (b)What is the F – Statistic? (c) What is the p – value? (d) What can you conclude about the null hypothesis? (e) What can you conclude about the population means?
The table shows the results of a survey in which separate samples of 400 adults each from the East, South, Midwest, and West were asked if traffic congestion is a serious problem in their community. Complete parts (a) and (b). Bad Traffic Congestion? Adults who say that traffio congestion is a serlous problem East 34% South 32% Midwest West 26% 57% ..... (a) Construct a 95% confidence interval for the proportion of adults from the Midwest who say traffic congestion is a serious problem. The 95% confidence interval for the proportion of adults from the Midwest who say traffic congestion is a serious problem is ( . ). (Round to three decimal places as needed.)
Consider the data set 34 45 27 33 38 41 45 29 30 39 34 40 28 33 36 (a) What is the sample median? (b) Construct a 99% two-sided confidence interval for the population mean.
A random sample of 35 customers has an average order size of $80, and a population standard deviation of $22.00. Not all samples of this size would give you the same sample average, so you'd like to construct an "interval estimate" to convey this uncertainty. What is a 95% confidence interval for this mean? Group of answer choices a $78.77 - $81.23 b $72.56 - $87.44 c $36.88 - $123.12 d $72.71 - $87.29
Mental health. The General Social Survey asked the question: “For how many days during the past30 days was your mental health, which includes stress, depression, and problems with emotions, not good?”Based on responses from 1,151 US residents, the survey reported a 95% confidence interval of 3.40 to 4.24days in 2010.(a) Interpret this interval in context of the data.(b) What does “95% confident” mean? Explain in the context of the application.(c) Suppose the researchers think a 99% confidence level would be more appropriate for this interval. Willthis new interval be smaller or wider than the 95% confidence interval?(d) If a new survey were to be done with 500 Americans, do you think the standard error of the estimatebe larger, smaller, or about the same.
How productive are U.S. workers? One way to answer this question is to study annual profits per employee. A random sample of companies in computers (I), aerospace (II), heavy equipment (III), and broadcasting (IV) gave the following data regarding annual profits per employee (units in thousands of dollars). I II III IV 27.9 13.5 22.2 17.9 23.2 9.6 20.5 16.4 14.7 11.1 7.7 14.5 8.3 8.9 12.7 15.9 11.8 6.5 7.7 10.6 19.1 9.5 What are the degrees of freedom? (numerator) (denominator)(c) Find the P-value of the sample test statistic. P-value > 0.100 0.050 < P-value < 0.100 0.025 < P-value < 0.050 0.010 < P-value < 0.025 0.001 < P-value < 0.010 P-value < 0.001 (d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis? Since the P-value is greater than the level of significance at α = 0.05, we do not reject H0. Since the P-value is less than or equal to the level of significance at α = 0.05, we…
Find a 95% confidence interval for the percentage of stocks with a gain.
Listed below are the ages of randomly selected race car drivers. Construct a 98% confidence interval estimate of the mean age of all race car drivers. Assume that this data is normally distributed. 32 32 33 33 41 29 38 32 33 23 27 45 52 29 25 PLEASE SHOW ALL WORK!!!
Find the mean, median, and mode for a random sample of eight U.S. corporations with the following percentage changes in earnings per share in the current year compared with the previous year: 0% 0% 8.1% 13.6% 19.4% 20.7% 10.0% 14.2%
In a study of success records of nine students, a researcher reported the following results: 12, 15, 10, 15,20,25,20,10,16. Construct a 99% confidence interval estimate of the true mean number of success. We will assume that the data is normally distributed. O a. (12.01, 19.75) O b. (10.25, 21.52) O . (12.75, 19.01) O d. (13.01, 18.75) e. (12.88, 18.88)

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS