In a sample of 81 U.S. adults aged 18-24 who celebrate Halloween, the mean amount spent on a costume was $40.35 with a standard deviation of $16.8. Round answers to at least 4 decimal places.a) What parameter are we estimating? b) We can work this problem because: c) What is the point estimate of that parameter? d) What is the standard deviation of the sampling distribution for the sample means? e) Find the margin of error for a 90% confidence interval for the true average amount spent on a costume. f) We are 90% confident that the true average amount spent on a Halloween costume for U.S. adults aged 18-24 is between $____ and $_____. Hello, copuld you please help me understand this? please show detail so I can understand . Thank you very much!
In a sample of 81 U.S. adults aged 18-24 who celebrate Halloween, the mean amount spent on a costume was $40.35 with a standard deviation of $16.8. Round answers to at least 4 decimal places.a) What parameter are we estimating? b) We can work this problem because: c) What is the point estimate of that parameter? d) What is the standard deviation of the sampling distribution for the sample means? e) Find the margin of error for a 90% confidence interval for the true average amount spent on a costume. f) We are 90% confident that the true average amount spent on a Halloween costume for U.S. adults aged 18-24 is between $____ and $_____. Hello, copuld you please help me understand this? please show detail so I can understand . Thank you very much!
In a sample of 81 U.S. adults aged 18-24 who celebrate Halloween, the mean amount spent on a costume was $40.35 with a standard deviation of $16.8. Round answers to at least 4 decimal places.a) What parameter are we estimating? b) We can work this problem because: c) What is the point estimate of that parameter? d) What is the standard deviation of the sampling distribution for the sample means? e) Find the margin of error for a 90% confidence interval for the true average amount spent on a costume. f) We are 90% confident that the true average amount spent on a Halloween costume for U.S. adults aged 18-24 is between $____ and $_____. Hello, copuld you please help me understand this? please show detail so I can understand . Thank you very much!
In a sample of 81 U.S. adults aged 18-24 who celebrate Halloween, the mean amount spent on a costume was $40.35 with a standard deviation of $16.8. Round answers to at least 4 decimal places. a) What parameter are we estimating? b) We can work this problem because: c) What is the point estimate of that parameter? d) What is the standard deviation of the sampling distribution for the sample means? e) Find the margin of error for a 90% confidence interval for the true average amount spent on a costume. f) We are 90% confident that the true average amount spent on a Halloween costume for U.S. adults aged 18-24 is between $____ and $_____.
Hello, copuld you please help me understand this? please show detail so I can understand . Thank you very much!
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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