Answered: Q. 1 Use the Job Search data for this…

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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Q. 1 Use the Job Search data for this question. Construct a 99% confidence interval of job search time using Excel using the sample to calculate the sample mean and sample standard deviation. What is the upper limit of the confidence interval? O. 27.09 O. 21.78 O. 26.07 O. 5.09 Q. 2 Use the Job Search data for this question. Construct a 90% confidence interval of job search time-using Excel using the sample to calculate the sample mean, the population standard deviation is 2. What is the lower limit of the confidence interval? O. 22.52 O. 27.09 O. 25.17 O. 21.48 Q.3. Use the CheckAcct data file in the Chapter 10 folder for this question, this has the mean account balance of a sample of banking customers in two cities. Clearwater National Bank wants to estimate the difference between the mean checking account balance of the customers in two populations, Cherry Grove and Beechmont. Assume the population standard deviation for Cherry Grove is $150 and that it is $125 for Beechmont. What is the point estimate of the mean difference in checking account balances of the two cities? O. 50 O. 115 O. 6 O. 25 Q.4. Use the CheckAcct data file in the Chapter 10 folder for this questión, this has the mean account balance of a sample of banking customers in two cities. Clearwater National Bank wants to estimate the difference between the mean checking account balance of the customers in two populations, Cherry Grove and Beechmont. Assume the population standard deviation for Cherry Grove is $150 and that it is $125 for Beechmont. Construct a 95% confidence interval for the mean difference in checking account balances. What is the margin of error for this interval? O. 115 O. 76.26 O. 38.91 O. 191

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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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