Answered: Data on investments in the high-tech…

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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Question

Data on investments in the high-tech industry by venture capitalists are compiled by a corporation. A random sample of

venture-capital investments in a certain business sector yielded the accompanying data, in millions of dollars. Determine and interpret a

95%

confidence interval for the mean amount,

μ,

of all venture-capital investments in this business sector. Assume that the population standard deviation is

$1.83

million. (Note: The sum of the data is

$124.47

million.)

Data on investments in the high-tech industry by venture capitalists are compiled by a corporation. A random sample of
18 venture-capital investments in a certain business sector yielded the accompanying data, in millions of dollars.
Determine and interpret a 95% confidence interval for the mean amount, µ, of all venture-capital investments in this
business sector. Assume that the population standard deviation is $1.83 million. (Note: The sum of the data is $124.47
million.)
Click here to view the investment data.
Click here to view page 1 of the table of areas under the standard normal curve.
Click here to view page 2 of the table of areas under the standard normal curve.
The 95% confidence interval is from $
million to $
million.
(Round to two decimal places as needed.)

Investment Data
6.10
6.44
6.65
10.05
3.76
5.97
6.55
6.54
4.39
9.06
6.54
7.69
4.63
8.66
9.46
5.18
9.09
7.71
Print
Done

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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