An economist would like to estimate the mean amount of money thata family spends to within $82. If the amount spent by a family isconsidered to be normally distributed with a standard deviation of$490, what sample size would be necessary to be 96% confident?

We have given that, Margin of error (E) = 82, standard deviation (σ) = 490 confidence level (c) =…

Answered: An economist would like to estimate the…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

Assume that the mathematics scores on the SAT are normally distributed with a mean of 500 and a standard deviation of 100. What percent of students who took the test have a mathematics score between 570 and 640?
The percent fo Coloradans that own a Subaru is 56%. If you were to take a random sample of size 70, what is the standard deviation of the sampling distribution?
A bank loan officer rates applicants for credit. The ratings can be described by a normal model with a mean of 200 and a standard deviation of 50. If an applicant is randomly selected, what percentage can be expected to be between 200 and 275?
If the standard error, of a sample data set is 5 and the standard deviation, of the distribution is 45, how many data points, n are in the sample data set?
In a bell-shaped distribution, 95 % of the data falls within 1 standard deviation of the mean.
Assume that the mathematics scores on the SAT are normally distributed with a mean of 500 and a standard deviation of 100. What percent of students who took the test have a mathematics score below 610?
A study by the National Center for Health Statistics suggested that women between the ages 20 and 29 in the US have a mean BMI of 26.8 with a standard deviation of 7.4. A BMI of 30 or greater is considered as being obese. What proportion of women in this age range are obese?
In a standardized exam the mean score is 400 with a standard deviation of 50. If a random sample of 25 students is selected , what is the standard deviation of the sampling distribution of the sample mean ?
The U.S. Center for Disease Control reports that in year 1900, the mean life expectancy is 47.6 years for whites and 33 years for nonwhites. (Click here for reference data) Suppose a survey of randomly selected death records for white and nonwhite people born in 1900 from a certain county is conducted. Of the 110 whites surveyed, the mean life span was 48.2 years with a standard deviation of 11.2 years and of the 95 nonwhites, the mean life span was 39.3 years with a standard deviation of 16 years. Conduct a hypothesis test at the 0.05 level of significance to determine whether there was no difference in mean life spans in the county for whites and nonwhites in year 1900. Preliminary: Is it safe to assume thatnw≤5% of all white people born in 1900 andnnw≤5% of all nonwhite people born in 1900? No Yes Is nw≥30 and nnw≥30 ? No Yes Test the claim: Determine the null and alternative hypotheses. H0: μw μnw Ha: μw μnw Determine the test statistic. Round to four…
A researcher would like to estimate the mean amount of money that a family spends to within $75. If the amount spent by a family is considered to be normally distributed with a standard deviation of $412, what sample size would be necessary to be 93% confident?
A study states that for a particular area, the average income per family is $34,569 and the standard deviation is $8256. What percentage of families in that area earn below $25,000?
The question is attached in an image.

SEE MORE QUESTIONS

Recommended textbooks for you

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

SEE MORE TEXTBOOKS

An economist would like to estimate the mean amount of money that a family spends to within $82. If the amount spent by a family is considered to be normally distributed with a standard deviation of $490, what sample size would be necessary to be 96% confident?