Example 11.5 A firm has appointed a large number of dealers all over the country to sell its bicycles. Itis interested in knowing the average sales per dealer. A random sample of 25 dealers is selected for thispurpose. The sample mean is Rs 50,000 and the standard error is Rs 20,000. Construct an intervalestimate with 95 per cent confidence.n=25df = 24 degrees of freedomStovalles0.025 ofarea under0.025 ofarea underthe curvethe curve↓0.95 of area under the curveX = 50000-2.064 0+2.064 ô41,74458,256JANGANFig. 11.4At distribution for 24 degrees of freedom, showing a 95 percent confidence interval.

Answered: Image /qna-images/answer/e22bcdd6-2411-4193-ae29-feef3288d7c9.jpg

Answered: Example 11.5 A firm has appointed a…

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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An IQ test is designed so that the mean is 100 and the standard deviation is 24 for the population of normal adults. Find the sample size necessary to estimate the mean IQ score of statistics students such that it can be said with 95% confidence that the sample mean is within 8 IQ points of the true mean. Assume tha σ=24 and determine the required sample size using technology. Then determine if this is a reasonable sample size for a real world calculation.The required sample size is enter your response here. (Round up to the nearest integer.) Would it be reasonable to sample this number of students? Yes. This number of IQ test scores is a fairly small number. No. This number of IQ test scores is a fairly small number. Yes. This number of IQ test scores is a fairly large number. No.This number of IQ test scores is a fairly large number.
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