Answered: n an article it was stated that…

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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In an article it was stated that baseball players were paid an average of $150 per autograph. You
suspect this price is too high. The population standard deviation is known to be $22 for this
distribution. You find that a random sample of 800 such autographs yields a mean of $135 per
autograph. Find a 95% confidence interval for the true mean price of an autograph.
Will we use z or t? ________ Why? ______________________________________________________
What is the z or t critical value based on 95% confidence? ________
What is the standard deviation of the sampling distribution of the mean? ________
Calculate the margin of error: E = ________________________
Confidence interval: ______________________

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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