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 wechoose 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 valuefor 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 scenarioThe sample has size 17, and it is from a normally distributedpopulation with an unknown standard deviation.The sample has size 18, and it is from a population with adistribution about which we know very little.The sample has size 80, and it is from a non-normally distributedpopulation with a known standard deviation of 76.ContinueF3DOD000 F4F5ZO OOOtF6OOMacBook AirCould useeither Z or tOOX 5OF7UnclearOOFOF10Submit Assignm

given data, CI=0.99α=1-0.99=0.01x¯=485S=77we have to answer given subparts

Answered: (a) What is the best point estimate,…

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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Executives of a supermarket chain are interested in the amount of time that customers spend in the stores during shopping trips. The executives hire a statistical consultant and ask her to determine the mean shopping time, μ, of customers at the supermarkets. The consultant will collect a random sample of shopping times at the supermarkets and use the mean of these shopping times to estimate μ. Assuming that the standard deviation of the population of shopping times at the supermarkets is 26 minutes, what is the minimum sample size she must collect in order for her to be 90%confident that her estimate is within 5 minutes of μ? Carry your intermediate computations to at least three decimal places. Write your answer as a whole number (and make sure that it is the minimum whole number that satisfies the requirements).
If X=115, σ=22, and n=36, construct a 95% confidence interval estimate of the population mean, μ. Click here to view page 1 of the cumulative standardised normal distribution table. LOADING... Click here to view page 2 of the cumulative standardised normal distribution table. LOADING... The 95% confidence interval is enter your response here≤μ≤enter your response here. (Round to two decimal places as needed.)
1. (a) Eight randomly selected batches of a chemical were tested for impurity concentration. The percentage impurity levels found in the sample were as follows: 5.3 6.2 4.1 5.4 3.6 5.6 4.8 (b) (c) (d) 4.2 (0) (ii) Calculate the sample mean and sample variance. Construct a 95% confidence interval for the population mean. A random sample of 35 new graduates from Bangor University shows a mean starting salary of £17,250 and a standard deviation of £3,088. Construct a 95% confidence interval for the population mean starting salary. A components manufacturer claims that its average proportion of defective components is 1%. 65 defectives were found in a particular batch of 5000 components. Using the sample data, construct a 95% confidence interval for the population proportion of defectives. Provide a recommendation as to whether or not the company's claim should be believed. A loan auditor at a bank wishes to consider the loan balance for all customers who are currently carrying overdrafts.…
Executives of a supermarket chain are interested in the amount of time that customers spend in the stores during shopping trips. The executives hire a statistical consultant and ask her to determine the mean shopping time, μ, of customers at the supermarkets. The consultant will collect a random sample of shopping times at the supermarkets and use the mean of these shopping times to estimate μ. Assuming that the standard deviation of the population of shopping times at the supermarkets is 27 minutes, what is the minimum sample size she must collect in order for her to be 95% confident that her estimate is within 5 minutes of μ? Carry your intermediate computations to at least three decimal places. Write your answer as a whole number (and make sure that it is the minimum whole number that satisfies the requirements).
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Researchers conducted a study to determine whether magnets are effective in treating back pain. Pain was measured using the visual analog scale, and the results shown below are among the results obtained in the study. Higher scores correspond to greater pain levels. Assume that the two samples are independent simple random samples selected from normally distributed populations, and do not assume that the population standard deviations are equal. Complete parts (a) to (c) below. Reduction in Pain Level After Magnet Treatment (1): n=22,x=0.58, s=0.89 Reduction in Pain Level After Sham Treatment (H2): n=22, x = 0.51, s = 1.29 H₁: H1 H2 The test statistic, t, is 0.21. (Round to two decimal places as needed.) The P-value is 0.417. (Round to three decimal places as needed.) State the conclusion for the test. OD. Ho H₁₂ H₁: H1 H2 Fail to reject the null hypothesis. There is not sufficient evidence to support the claim that those treated with magnets have a greater mean reduction in pain than…
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Suppose that x and y are two variables of a population and that the assumptions for regression inferences are met with x as the predictor variable and y as the response variable. a. What statistic is used to estimate the slope of the population regression line? b. What statistic is used to estimate the y-intercept of the population regression line? c. What statistic is used to estimate the common conditional standard deviation of the response variable corresponding to fixed values of the predictor variable?

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