QUESTION 30Credit card balances of all customers in a certain bank are right-skewed. To estimate the meanbalance for all customers, a business statistics student has selected 49 customers and found out thattheir mean balance is AED 2850 and the sample standard deviation of AED 288. What is the marginof error for computing the 93% confidence interval for the populaton mean balance for all customers?Round your answer to three decimal places.

Suppose µ is the population mean balance for all customers.

Answered: Credit card balances of all customers…

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 are a teacher at a gifted school, and you feel that the newest class of students is even brighter than usual. The mean IQ at your school is 127, and the mean IQ of this new class is 134. In total, there are 32 students in this new class. Also, the standard deviation of the school’s IQ is 8. Use the eight steps to test whether this new class of students is significantly more intelligent than the school’s student body overall.
Suppose that you randomly survey death records for people born in 1900 in Louisiana and compared the life span of two different ethnicities. Of the 109 individuals sampled from ethnicity 1, the mean life span was 45.5 years with a standard deviation of 18.2 years. Of the 105 individuals sampled from ethnicity 2, the mean life span was 44.9 years with a standard deviation of 11.4 years. Conduct a hypothesis test with a 10% level of significance to see if the mean life spans in Louisiana were the same for the two ethnicities. Step 1: State the null and alternative hypotheses. Ho: µ1 – µ2 =v Ha:H1 – µ2 # v (So we will be performing a two-tailed ♥ test.)
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You hypothesize that people in stats classes are happier than people in all other classes. You compare happiness scores in three of your classes: Statistics, Developmental Psychology, and Social Psychology. In Statistics there are 15 students and the mean happiness rating is 23.1 with a standard deviation of 9.78. In Developmental Psychology there are 15 students and the mean happiness rating is 24.4 with a standard deviation of 2.92. In Social Psychology there are 15 students with a mean rating of 17.7 and standard deviation of 8.46. The sum of squares between groups is equal to 384. The sum of squares within groups is equal to 2461. Use the One-Way ANOVA calculation table to help calculate. What is the degrees of freedom between samples?
You hypothesize that people in stats classes are happier than people in all other classes. You compare happiness scores in three of your classes: Statistics, Developmental Psychology, and Social Psychology. In Statistics there are 15 students and the mean happiness rating is 23.1 with a standard deviation of 9.78. In Developmental Psychology there are 15 students and the mean happiness rating is 24.4 with a standard deviation of 2.92. In Social Psychology there are 15 students with a mean rating of 17.7 and standard deviation of 8.46. The sum of squares between groups is equal to 384. The sum of squares within groups is equal to 2461. Use the One-Way ANOVA calculation table to help calculate. What is the degrees of freedom within samples?
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In a random sample of 2500 men being treated for obesity, the mean total cholesterol level is 175 with a standard deviation of 25. Construct a 95% confidence interval around the mean and interpret it. Use the context of the question please.
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A random sample of 64 shoppers showed that they spend an average of $27.31 per visit at the Sunday Mornings Bookstore. The standard deviation of the population is $2.14. Find the 90% confidence interval of the true mean. Please include all work showing how you found your answer.
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