online used car company sells second-hand cars. For 30 randomly selected transactions, the mean price is 3000 dollars.Part a) Assuming a population standard deviation transaction prices of 250 dollars, obtain a 99% confidence interval for the mean price of all transactions.Confidence interval: ().Part b)Which of the following is the correct interpretation for your answer in part (a)?A. There is a 99% chance that the mean price of all transactions lies in the intervalB. We can be 99% confident that the mean price for this sample of 30 transactions lies in the intervalV C. If we repeat the study many times, 99% of the calculated confidence intervals will contain the mean price of all transactions.D. None of the above

Answered: online used car company sells…

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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39. Create a 95% confidence interval for the data set below. 49 62 54 64 55 49 48 52 65 53 62 ( , ) [three decimal accuracy] [three decimal accuracy]
What percentage of hospitals provide at least some charity care? Based on a random sample of 10 hospital reports from eastern states, the sample mean was x = 62.3 % and the sample standard deviation was s = 8.0 %. a. Find a 98% confidence interval for the population average µ of the percentage of hospitals providing at least some charity care. b. Interpretation. What does the confidence interval mean in the context of this problem?
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When you hold the mouse pointer over a point on the graph, the specific value corresponding to that point appears (e.g., “California, 2013 - 19.4%”) as well as a line called “90% Confidence” followed by an range of values. Generally speaking, what does the range of values denoted by “90% Confidence” indicate?
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Salaries of 25 college graduates who took a statistics course in college have a mean of $79,350 and a standard deviation of $1,280. Construct a 98% confidence interval for estimating the population standard deviation. Enter the upper bound of the confidence interval. (Round your answer to nearest whole dollar.)
The accompanying table shows data for the weights of backpacks for men and women. Assume that the data are from random samples and the distributions are Normal. Complete parts (a) and (b) below. E Click the icon to view the data table. a. Find a 95% confidence interval for the difference between means HFemale - HMale state whether it captures 0, and explain what that shows about the mean. The 95% confidence interval is ( D (Round to two decimal places as needed. Use ascending order.) Backpack weights Female Male 10 10 12 8 9. 7 5 10 7 20 3 11 8 14 13 11 14 6 7 22 11 12 15 10 17 22 10 7 25 11 7 15 11 11 4 16 13 20 21 15 10 9. 16 10 15 13 10 10 17 12 11 38 6. 6. 7 19 12 13 20 8 14 15 18 19 10 16 16 13 18 12 14 13 13 15 14 14 7 7 14 13 27 11
Researchers studied the mean egg length (in millimeters) for a bird population. After taking a random sample of eggs, they obtained a 95% confidence interval of (45,60). What is the value of the margin of error? Choose the correct answer below. A. 15 mm B. 52.5 mm O c. 7.5 mm O D. 1.96
If the analyst decides to increase the sample size (n) from 75 to 100, while maintaining the same confidence level, the width of the confidence interval would then: fluctuate up and down. remain unchanged. decrease. increase.
n a survey, 23 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $31 and standard deviation of $17. Construct a confidence interval at a 95% confidence level.Give your answers to one decimal place. +-Interpret your confidence interval in the context of this problem.

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