An economist wants to estimate the averageamount in savings account at banks in a givenregion. Arandom sample of 100 accounts gives a mean of357.60 and standard deviation of 1.40.(i) Given a 95% confidence interval for theaverage amount in any savings accounts at abank inthe Given region.(ii) 90% confidence interval for the averageamount in any savings account at a bank in thegiven region.(iii) On the basis of the above results, what wouldyou conclude about the relationship betweenconfidence level and confidence interval?

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Answered: An economist 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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The time required for an automotive center to complete an oil change service on an automobile approximately follows a normal distribution, with a mean of 19 minutes and a standard deviation of 2.5 minutes. (a) The automotive center guarantees customers that the service will take no longer than 20 minutes. If it does take longer, the customer will receive the service for half-price. What percent of customers receive the service for half-price? (b) If the automotive center does not want to give the discount to more than 3% of its customers, how long should it make the guaranteed time limit? (a) The percent of customers that receive the service for half-price is 34.46 %. (Round to two decimal places as needed.) (b) The guaranteed time limit is minutes. (Round up to the nearest integer as needed.)
The time required for an automotive center to complete an oil change service on an automobile approximately follows a normal distribution, with a mean of 19 minutes and a standard deviation of 2.5 minutes. (a) The automotive center guarantees customers that the service will take no longer than 20 minutes. If it does take longer, the customer will receive the service for half-price. What percent of customers receive the service for half-price? (b) If the automotive center does not want to give the discount to more than 2% of its customers, how long should it make the guaranteed time limit?
A new computer chip design(A) is being compared to the current design(B).Fifty independent chips of each design are tested for speed at performing a certain task. The new computer chip (A) performed the task in 481.2 ms, on average, with a sample standard deviation of 14.3 ms. The current computer chip (B) performed the task in 495.6 ms, on average, with a sample standard deviation of 16.4 ms. Can you conclude, at a 5% significance level, that chip A performs this task faster than chip B?
Scores on a standard IQ Test for people aged 20 to 34 are normally distributed with mean 110 and standard deviation 25. (a) A researcher wants to select the men in the bottom 25% on this intelligence scale. How low must a man score (IQ)to be selected? (b) A researcher wants to select the men in the top 15% on this intelligence scale. How high must a man score(IQ) to be selected?
The time required for an automotive center to complete an oil change service on an automobile approximately follows a normal distribution, with a mean of 19 minutes and a standard deviation of 3 minutes. (a) The automotive center guarantees customers that the service will take no longer than 20 minutes. If it does take longer, the customer will receive the service for half-price. What percent of customers receive the service for half-price? (b) If the automotive center does not want to give the discount to more than 3% of its customers, how long should it make the guaranteed time limit? Question Help v (a) The percent of customers that receive the service for half-price is %. (Round to two decimal places as needed.) (b) The guaranteed time limit is minutes. (Round up to the nearest integer as needed.) Enter your answer in each of the answer boxes. 1:20 PM P Type here to search AD4 d0E ENG 3/21/2021 DELL PgUp Delete PrtScr Insert F11 F12 F10 F9 F7 F8 F6 F4 F5 F2 F3 A Backspace Esc F1 &…
The time required for an automotive center to complete an oil change service on an automobile approximately follows a normal distribution, with a mean of 19 minutes and a standard deviation of 2.5 minutes. (a) The automotive center guarantees customers that the service will take no longer than 20 minutes. If it does take longer, the customer will receive the service for half-price. What percent of customers receive the service for half-price? (b) If the automotive center does not want to give the discount to more than 4% of its customers, how long should it make the guaranteed time limit? Click here to view the standard normal distribution table (page 1). Click here to view the standard normal distribution table (page 2).
The time required for an automotive center to complete an oil change service on an automobile approximately follows a normal distribution, with a mean of 17minutes and a standard deviation of 2 minutes. (a) The automotive center guarantees customers that the service will take no longer than 20 minutes. If it does take longer, the customer will receive the service for half-price. What percent of customers receive the service for half-price? (b) If the automotive center does not want to give the discount to more than 5% of its customers, how long should it make the guaranteed time limit?
Weights of female cats of a certain breed are normally distributed with mean 4.1 kg and standard deviation 0.6 kg. (i). What proportion of female cats have weights between 3.7 and 4.4 kg? . (ii). A certain female cat has a weight that is 0.5 standard deviations above the mean. What proportion of female cats are heavier than this one?. (iii). How heavy is a female cat whose weight is on the 80th percentile?. (iv). A female cat is chosen at random. What is the probability that she weighs more than 4.5 kg? . (v). Five female cats are chosen at random. What is the probability that exactly one of them weighs more than 4.5 kg? .
The Census Bureau reports that 82% of Americans over the age of 25 are high school graduates. A survey of randomly selected residents of certain county included 1130 who were over the age of 25, and 922 of them were high school graduates. (a) Find the mean and standard deviation for the number of high school graduates in groups of 1130 Americans over the age of 25. Mean = 926.6 Standard deviation = 12.9933
The time required for an automotive center to complete an oil change service on an automobile approximately follows a normal distribution, with a mean of 17 minutes and a standard deviation of 2.5 minutes. (a) The automotive center guarantees customers that the service will take no longer than 20 minutes. If it does take longer, the customer will receive the service for half-price. What percent of customers receive the service for half-price? (b) If the automotive center does not want to give the discount to more than 3% of its customers, how long should it make the guaranteed time limit? %. (a) The percent of customers that receive the service for half-price is (Round to two decimal places as needed.)

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