Rock band The Rolling Stones have played scores of concerts in the last twenty years. For 30 randomly selected Rolling Stones concerts, the mean gross earnings is 2.89 milliondollars.Part a) Assuming a population standard deviation gross earnings of 0.5 million dollars, obtain a 99% confidence interval for the mean gross earnings of all Rolling Stones concerts (in millions).Confidence interval: (Part b)Which of the following is the correct interpretation for your answer in part (a)?U A. We can be 99% confident that the mean gross earnings for this sample of 30 Rolling Stones concerts lies in the intervalO B. There is a 99% chance that the mean gross earnings of all Rolling Stones concerts lies in the intervalO c. If we repeat the study many times, 99% of the calculated confidence intervals will contain the mean gross earning of all Rolling Stones concerts.O D. None of the above

Answered: Image /qna-images/answer/e5997b35-1819-43b9-844d-54c96989bdc2.jpg

Answered: Rock band The Rolling Stones have…

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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Subject :- Accounting
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2. What do Confidence intervals tell us? 3. How can confidence intervals be used in real life?
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Sample # 1 and has been provided in the second screenshot (hand written)
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Good credit: The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scores range from 300 to 850, with a score of 720 or more indicating that a person is a very good credit risk. An economist wants to determine whether the mean FICO score is more than the cutoff of 720. She finds that a random sample of 40 people had a mean FICO score of 760 with a standard deviation of 95. Can the economist conclude that the mean FICO score is greater than 720? Use the a = 0.05 level of significance and the P-value State the appropriate null and alternate hypotheses. Compute the value of the test statistic. Round the answer to at least three decimal places. Input the correct interval for the P-value. Determine whether to reject H0 State a conclusion.
View Policies Current Attempt in Progress Social Networking Sites In a survey of 2255 randomly selected US adults (age 18 or older), 1787 of them use the Internet regularly. Of the Internet users, 1054 use a social networking site.' Find a 99% confidence interval for each of the following proportions. Hampton, K., Goulet, L., Rainie, L., and Purcell, K., "Social Networking Sites and Our Lives," Pew Research Center, June 16, 2011. (a) Proportion of US adults who use the Internet regularly. Round your answers to three decimal places. to The 99% confidence interval is eTextbook and Media Hint (b) Proportion of US adult Internet users who use a social networking site 69°F Cloudy W ch
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Good credit: The Fair Isaac Corporation (FICO) credit score is used by banks and other lenders to determine whether someone is a good credit risk. Scores range from 300 to 850, with a score of 720 or more indicating that a person is a very good credit risk. An economist wants to determine whether the mean FICO score is more than the cutoff of 720. She finds that a random sample of 40 people had a mean FICO score of 760 with a standard deviation of 95. Can the economist conclude that the mean FICO score is greater than 720? Use the α= 0.01 level of significance and the P-value method and Excel. a)Compute the value of the test statistic. Round the answer to at least three decimal places. t= ? b) what is the P-value? c) Does it Rejects/Accepts the null hypothesis H_0? d) There is/ is not enough evidence to conclude that the mean FICO score is lower than the cutoff of 720.

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