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(a) What is the best point estimate, based on the sample, to use for the population mean? (b) For each of the following sampling scenarios, determine which distribution should be used to calculate the critical value for the 99% confidence interval for the population mean. (In the table, Z refers to a standard normal distribution, and t refers to a t distribution.) Sampling scenario The sample has size 17, and it is from a normally distributed population with an unknown standard deviation. The sample has size 18, and it is from a population with a distribution about which we know very little. The sample has size 80, and it is from a non-normally distributed population with a known standard deviation of 76. N O O O O O X 5 Could use either Z or t O O Unclear O O X

(a) What is the best point estimate, based on the sample, to use for the population mean? (b) For each of the following sampling scenarios, determine which distribution should be used to calculate the critical value for the 99% confidence interval for the population mean. (In the table, Z refers to a standard normal distribution, and t refers to a t distribution.) Sampling scenario The sample has size 17, and it is from a normally distributed population with an unknown standard deviation. The sample has size 18, and it is from a population with a distribution about which we know very little. The sample has size 80, and it is from a non-normally distributed population with a known standard deviation of 76. N O O O O O X 5 Could use either Z or t O O Unclear O O X

MATLAB: An Introduction with Applications
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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You would like to construct a 99% confidence interval to estimate the population mean store on a nationwide examination in finance, and for this purpose we choose a random sample of exam scores. The sample we choose has a mean of 485 and a standard deviation of 77. (a) What is the best point estimate, based on the sample, to use for the population mean? (b) For each of the following sampling scenarios, determine which distribution should be used to calculate the critical value for the 99% confidence interval for the population mean. (In the table, Z refers to a standard normal distribution, and t refers to a t distribution.) Sampling scenario The sample has size 17, and it is from a normally distributed population with an unknown standard deviation. The sample has size 18, and it is from a population with a distribution about which we know very little. The sample has size 80, and it is from a non-normally distributed population with a known standard deviation of 76. Continue F3 DOD 000 F4 F5 Z O O O O t F6 O O MacBook Air Could use either Z or t O O X 5 O F7 Unclear O O FO F10 Submit Assignm
Transcribed Image Text:You would like to construct a 99% confidence interval to estimate the population mean store on a nationwide examination in finance, and for this purpose we choose a random sample of exam scores. The sample we choose has a mean of 485 and a standard deviation of 77. (a) What is the best point estimate, based on the sample, to use for the population mean? (b) For each of the following sampling scenarios, determine which distribution should be used to calculate the critical value for the 99% confidence interval for the population mean. (In the table, Z refers to a standard normal distribution, and t refers to a t distribution.) Sampling scenario The sample has size 17, and it is from a normally distributed population with an unknown standard deviation. The sample has size 18, and it is from a population with a distribution about which we know very little. The sample has size 80, and it is from a non-normally distributed population with a known standard deviation of 76. Continue F3 DOD 000 F4 F5 Z O O O O t F6 O O MacBook Air Could use either Z or t O O X 5 O F7 Unclear O O FO F10 Submit Assignm
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