Review Example 8.5 and answer the following questions.EXAMPLE 8.5ProblemThe average earnings per share (EPS) for 10 industrial stocks randomly selected from those listed onthe Dow-Jones Industrial Average was found to be X = 1.85 with a standard deviation of s=0.395.Calculate a 99% confidence interval for the average EPS of all the industrials listed on the DJIA.8tra (M) SUSI+W₂ (√)tvaI-tv,aa. A confidence interval is a type of estimator. What are we estimating in this example?b. Name each symbol in the confidence interval given and explain the use of the symbol.c Suppose you were conducting a two-tailed hypothesis test: Ho: m = 3.0 at a = .01. What do you conclude?

a. In this example, we are estimating the average earnings per share (EPS) for all industrial stocks…

Answered: EXAMPLE 8.5 Problem The average…

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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CHALLENGE 7.2.1: Confidence intervals for population proportions. ACTIVITY Critical values for quick reference during this activity. Confidence level Critical value 0.90 z* = 1.645 0.95 z* = 1.960 0.99 2 = 2.576 3876741891676.qv3ny Start In a poll of 1000 randomly selected voters in a local election, 393 voters were against school bond measures. What is the sample proportionp? Ex 0.123 What is the margin of error m for the 90% confidence level? Ex: 0.123 Check 73°F A search F7 F9 F10 FIL F12 5 8. T Y H K D D D D
Question 6 of 6 - /2 E View Policies Current Attempt in Progress Fast Auto Service provides oil and lube service for cars. It is known that the mean time taken for oil and lube service at this garage is 15 minutes per car and the standard deviation is 2.4 minutes. The management wants to promote the business by guaranteeing a maximum waiting time for its customers. If a customer's car is not serviced within that period, the customer will receive a 50 % discount on the charges. The company wants to limit this discount to at most 4% of the customers. What should the maximum guaranteed waiting time be? Assume that the times taken for oil and lube service for all cars have a normal distribution. Round your answer to the nearest minute. The maximum guaranteed waiting time should be approximately i minutes. eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer 50 e Type here to search
1 pts Question 7 If a sample of 35 employees had been selected, could we find a 95% confidence interval for the average salary of the entire company? Yes because when I plug 35 into the calculator with the previous average of $55,000 and standard deviation of $5,000 I get a confidence interval of ($53,343.53, $56,656.47) O No since 35 is less than 40.
Part 1 of 3: The age when smokers first start from previous studies is normally distributed with a mean of 13 years old with a population standard deviation of 1.9 years old. A survey of smokers of this generation was done to estimate if the mean age has changed. The sample of 32 smokers found that their mean starting age was 14.3 years old. Find the 3-decimal small value of the 95% confidence interval of the mean Part 2 of 3 Find the 3-decimal large value of the 95% confidence interval of the mean Part 3 of 3 Find the 3-decimal margin of error
Question 5 Assume that a sample is used to estimate a population mean p. Find the 90% confidence interval for a sample of size 71 with a mean of 57.2 and a standard deviation of 20.7. Enter your answer as an open- interval (i.e., parentheses) accurate to one decimal place (because the sample statistics are reported accurate to one decimal place). 90% C.I. %3D Answer should be obtained without any preliminary rounding. However, the critical value may be rounded to 3 decimal places. Submit Question
Question 9: compute a 95% confidence interval for the average blood pressure range of any individual that will take the blood pressure medication.
QUESTION 1 A hardware store determined the current balances for a random sample of 100 customers with non-zero balances. The sample mean of the amount owed was $100.00 and the standard deviation was $25. Use the assumption that the sample standard deviation is equal to the population standard deviation. You are asked to find a confidence interval for the average amount owed by all customers with a non-zero balance. Which Minitab procedure would be most appropriate to use for this task? O Power and Sample Size/1-Sample Z O Power and Sample Size/Sample Size for Estimation/1-Sample Z O Basic Statistics/1-Sample Z O Basic Statistics/1-Sample t
QUESTION 9 A sample of 25 part-time workers had an average hourly income of $15.0 with a sample standard error of $2.00. a) What is the interval for average hourly wage of all part-time workers at the 95% confidence? (round interval to the second decimal For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
Suppose 80 independent measurements are made for the speed of sound with an air temperature of 10 Celsius. The mean of the samples was 338.5 meters per second and the standard deviation was 2.2. Which of the statement below are True? a. Approximately 95% of the sample measurements need to be between 338.5 ± 1.96 * 2.2 for the mean of the sample to be normally distributed. b. Based on this sample, the 95% confidence interval for the true speed of sound at 10C is 338.5±1.96* 2.2/√80 c. The probability that the true speed of sound at 10C is between 338.5±1.96 * 2.2/√80 is 95%. d. The probability that the true speed of sound at 10C is between 338.5±1.65 * sqrt(2.2/80 is over 90%. e. Approximately 90% of the sample measurements were between 338.5±1.65 * 2.2/√80 f. The sample size of 80 is too small to judge the accuracy of the measurements.
Question 2
Example 4: The average cholesterol level for a random sample of 25 adult women is 263 units with a standard deviation of 43 units. From previous study, it is known that the population is normally distributed with a standard deviation of 40 units. Find a 90% C.I for the mean cholesterol level for all adult women in the population.
Ch. 6.1 CI We examine the effect of different inputs on determining the sample size needed to obtain a specific margin of error when finding a confidence interval for a proportion. Find the sample size needed to give, with 95% confidence, a margin of error with +/- 6% when estimating a proportion. Within +/- 4%. Within +/- 1%. (Assume no prior knowledge about the population proportion p). Comment on the relationship between the sample size and the desired margin of error.

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