Hoping to lure more shoppers downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 43 weekdays, daily fees collected averaged $128, with standard deviation of $13. Complete parts 1 through 5 below. 1) What assumptions must you make in order to use these statistics for inference? Select all that apply. A. The data are a random sample of all days. B. The sample size is at least 10% of the population. C. The data values should be dependent. D. The distribution is unimodal and symmetric with no outliers. 2) Find a 95% confidence interval for the mean daily income this parking garage will generate. The 95% confidence interval for the mean daily income is ($____,$____). 3) Explain in context what this confidence interval means. Choose the correct answer below. A. There is 95% confidence that the daily income for all weekdays falls in the interval. B. There is 95% confidence that the interval contains the mean daily income. C. There is 95%confidence that the mean daily income will always fall in the interval. D. There is 95% confidence that the daily income for a weekday falls in the interval. 4) Explain what 95% confidence means in this context. Choose the correct answer below. A. 95% of all weekdays have daily incomes that fall in the interval. B. 95% of all samples of size 43 produce intervals that contain the mean daily income. C. 95% of all weekdays sampled have daily incomes that fall in the interval. D. 95% of all samples of size 43 have a mean daily income that is in the interval. 5) The consultant who advised the city on this project predicted that parking revenues would average $135 per day. Based on your confidence interval, what do you think of the consultant's prediction? Why? Since the 95% confidence interval ▼(contains or does not contain)▼ the predicted average, the consultant's prediction is▼ (not plausible or plausible) ▼

Hoping to lure more shoppers downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 43 weekdays, daily fees collected averaged $128, with standard deviation of $13. Complete parts 1 through 5 below. 1) What assumptions must you make in order to use these statistics for inference? Select all that apply. A. The data are a random sample of all days. B. The sample size is at least 10% of the population. C. The data values should be dependent. D. The distribution is unimodal and symmetric with no outliers. 2) Find a 95% confidence interval for the mean daily income this parking garage will generate. The 95% confidence interval for the mean daily income is ($,$). 3) Explain in context what this confidence interval means. Choose the correct answer below. A. There is 95% confidence that the daily income for all weekdays falls in the interval. B. There is 95% confidence that the interval contains the mean daily income. C. There is 95%confidence that the mean daily income will always fall in the interval. D. There is 95% confidence that the daily income for a weekday falls in the interval. 4) Explain what 95% confidence means in this context. Choose the correct answer below. A. 95% of all weekdays have daily incomes that fall in the interval. B. 95% of all samples of size 43 produce intervals that contain the mean daily income. C. 95% of all weekdays sampled have daily incomes that fall in the interval. D. 95% of all samples of size 43 have a mean daily income that is in the interval. 5) The consultant who advised the city on this project predicted that parking revenues would average $135 per day. Based on your confidence interval, what do you think of the consultant's prediction? Why? Since the 95% confidence interval ▼(contains or does not contain)▼ the predicted average, the consultant's prediction is▼ (not plausible or plausible) ▼

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Question

1) What assumptions must you make in order to use these statistics for inference?

Select all that apply.

A. The data are a random sample of all days.

B. The sample size is at least 10% of the population.

C. The data values should be dependent.

D. The distribution is unimodal and symmetric with no outliers.

2) Find a 95% confidence interval for the mean daily income this parking garage will generate.

The 95% confidence interval for the mean daily income is ($____,$____).

3) Explain in context what this confidence interval means.

Choose the correct answer below.

A. There is 95% confidence that the daily income for all weekdays falls in the interval.

B. There is 95% confidence that the interval contains the mean daily income.

C. There is 95%confidence that the mean daily income will always fall in the interval.

D. There is 95% confidence that the daily income for a weekday falls in the interval.

4) Explain what 95% confidence means in this context.

Choose the correct answer below.

A. 95% of all weekdays have daily incomes that fall in the interval.

B. 95% of all samples of size 43 produce intervals that contain the mean daily income.

C. 95% of all weekdays sampled have daily incomes that fall in the interval.

D. 95% of all samples of size 43 have a mean daily income that is in the interval.

5) The consultant who advised the city on this project predicted that parking revenues would average

$135 per day. Based on your confidence interval, what do you think of the consultant's prediction? Why?

Since the 95% confidence interval ▼(contains or does not contain)▼ the predicted average, the consultant's prediction is▼ (not plausible or plausible) ▼

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here