An online used car company sells second-hand cars. For 30 randomly selected transactions, themean price is 2800 dollars.Part a) Assuming a population standard deviationtransaction prices of 250 dollars, obtain a 99%confidence interval for the mean price of all transactions.Confidence interval: (|).Part b)Which of the following is the correct interpretation foryour answer in part (a)?A. We can be 99% confident that the mean price forthis sample of 30 transactions lies in the intervalB. If we repeat the study many times, 99% of thecalculated confidence intervals will contain the meanprice of all transactions.C. There is a 99% chance that the mean price of alltransactions lies in the intervalD. None of the above

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Answered: An online used car company sells…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Suppose a study was conducted of community colleges in California to determine the average cost of tuition for in-state students. The study consisted of 45 community colleges from California. Based on the sample data, the average tuition was $1,440 and the standard deviation was $267. Use this information to construct and interpret a 92% confidence interval for the true average tuition of all California community colleges. Make sure to check any relevant assumptions and state how you determined whether or not they were satisfied (Be as specific as possible). Make sure to type your confidence interval in an interval format with each bound rounded to 3 decimal places [i.e. (12.345, 45.678)]
a. interpret the corresponding 95% confidence intervals for both Birth weight and Age. b. What is the predicted average SBP of an infant born with birth weight 8lbs (128oz) measured at 3 days old? c. Calculate the Pearson correlation between Age and Birth weight, and test if this correlation is significant at the 0.05 level. Does this answer surprise you, why or why not?
Two intervals are given, A and B, for the same value of the explanatory variable. A: 16.3 to 22.1; B: 17.8 to 20.6; (a) Which interval is the confidence interval for the mean response? B Which interval is the prediction interval for the response? A (b) What is the predicted value of the response variable for this value of the explanatory variable? Enter the exact answer.
An apartment hunter is shopping for either a one-bedroom or two-bedroom apartment in varying apartment buildings. She wants to estimate the additional amount she would have to pay, on average, for a two-bedroom apartment versus a one-bedroom apartment. The table shows the prices, in dollars, for one- and two-bedroom apartments from the nine buildings she visited. A 95% confidence interval for the true mean difference between two-bedroom and one-bedroom apartments for apartment buildings like the ones in the sample was (255.93, 508.51). A friend of the apartment hunter tells her to expect to pay about $500 more per month for a two-bedroom apartment than for a one-bedroom apartment. Does the confidence interval provide evidence for the friend’s claim? A. No, the confidence interval does not contain 0, so the friend’s claim is not plausible. B. No, the confidence interval contains many more numbers below 500 than above 500, so it is unlikely that the friend’s assertion is correct. C.…
4. on paper. random sample of 130 human body temperatures had a mean 98.25 degree and astandard deviation of 0.73 degree. Construct a 99% confidence interval for the average body temperature ofhealthy people.
Tourism is extremely important to the economy of Florida. Hotel occupancy is an often-reported measure of visitor volume and visitor activity (Orlando Sentinel, May 19, 2018). Hotel occupancy data for February in two consecutive years are as follows, current year previous year occupied rooms 1470 1458 total rooms 1750 1800 a)What is the 95% confidence interval estimate of the change in occupancy for the one-year period? b)Do you think officials will be pleased with the results? c) Using a 0.05 level of significance, test the hypothesis that there has been an increase in the proportion of rooms occupied over the one-year period.
We would like to create a confidence interval for the mean. Which of the following would produce the smallest margin of error? Select one: a.A 95% confidence level and a sample size of 150 subjects b. A 99% confidence level and a sample size of 600 subjects. c. A 99% confidence level and a sample size of 150 subjects. d.A 95% confidence level and a sample size of 600 subjects.
The accompanying data set gives the additional sleep in hours obtained by a sample of 10 patients using a certain sleep aid. Preliminary data analyses indicate that the t-interval procedure can reasonably be applied. Complete parts (a) and (b) below. Click here to view the additional sleep hours. Click here to view page 1 of the t-table. Click here to view page 2 of the t-table. ..... a. Obtain and interpret a 99% confidence interval for the additional sleep that would be obtained on average for all people using the sleep aid. (Note: x = 2.50 hr and s= 2.017 hr.) The 99% confidence interval is from hour(s) to hour(s). (Round to two decimal places as needed.) Additional sleep hours 2.2 1.4 0.0 5.7 4.7 1.1 0.1 4.5 1.6 3.7 Print Done
1- You want to construct a 99% confidence interval for the proportion of retail stores that went out of business due to the recent pandemic. You managed to collect a random sample of 93 retail stores and found 15% of them shut down permanently. Construct and interpret the confidence interval.
Assume that distances people driving to work are normally distributed. In a random sample of five people, the mean driving distance to work was 23 miles and the standard deviation was 6 miles. What is the length of the 95% confidence interval for the mean driving distance to work. Round to the nearest mile.
Which type of confidence interval should you use in this situation? A sample of 25 different payroll departments found that the employees worked an average of 310.3 days a year with a standard deviation of 23.8 days. The distribution is approximately normally distributed. Find the 90% confidence interval for the average days worked of all payroll departments. Question 2 options: 1) a confidence interval for the mean using a table value from the standard normal distribution. 2) a confidence interval for the mean using a table value from the t distribution. 3) a confidence interval for a proportion using a table value from the standard normal distribution. 4) a confidence interval for proportion using a table value from the t distribution. 5) none of the above.
Toby wants to know the average price of new cars at a particular dealearship. He randomly selects a sample of 31 cars and finds that the average price to be $19500$19500 with a standard deviation of $1640$1640. What is the 95% confidence interval for the mean price of cars at this particular dealership? With 95% confidence, we can say the true population mean price of cars at this dealership is between $____ and _____$ .Round to the nearest dollar

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