SuSSYou work in the leasing office of GE capital and wish topredict the average mileage driven of your leased carswithin a margin of error of 100 miles (you need this foryour company's financial disclosures). Suppose youraverage customer drives 10,000 miles a year, and yourguess for the standard deviation is about 750 miles.How big of a sample size do you need to generate a80% confidence interval with a mean of 10,000 miles ayear with a margin of error of 100 miles.StSu

Step 1: From the provided information,Population standard deviation (σ) = 750Margin of error (E) =…

Answered: Su SS You work in the leasing office of…

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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A simple random sample of 36 observations was taken from a large population. The sample mean and the standard deviation was determined to be 80 and 12 respectively. What is the standard error of the mean?
A test was designed to have a mean of 80 and a standard deviation of 10. A random sample of 20 students at your school take the test, and the mean score turns out to be 85. Does this score differ significantly from 80? To answer this problem, you may want to use the Normal Distribution Calculator.
You may need to use the appropriate appendix table or technology to answer this question. Money reports that the average annual cost of the first year of owning and caring for a large dog in 2017 is $1,448. The Irish Red and White Setter Association of America has requested a study to estimate the annual first-year cost for owners of this breed. A sample of 50 will be used. Based on past studies, the population standard deviation is assumed known with o = $245. 1,902 2,042 1,936 1,817 1,504 1,572 1,532 1,907 1,882 2,153 1,945 1,335 2,006 1,516 1,839 1,739 1,456 1,958 1,934 2,094 1,739 1,434 1,667 1,679 1,736 1,670 1,770 2,052 1,379 1,939 1,854 1,913 2,163 1,737 1,888 1,737 2,230 2,131 1,813 2,118 1,978 2,166 1,482 1,700 1,679 2,060 1,683 1,850 2,232 2,294 (a) What is the margin of error for a 95% confidence interval of the mean cost in dollars of the first year of owning and caring for this breed? (Round your answer to nearest cent.) (b) The DATAfile Setters contains data collected…
Russell is doing some research before buying his first house. He is looking at two different areas of the city, and he wants to know if there is a significant difference between the mean prices of homes in the two areas. For the 39 homes he samples in the first area, the mean home price is $⁢176,400. Public records indicate that home prices in the first area have a population standard deviation of $⁢32,930. For the 32 homes he samples in the second area, the mean home price is $⁢181,500. Again, public records show that home prices in the second area have a population standard deviation of $⁢23,835. Let Population 1 be homes in the first area and Population 2 be homes in the second area. Construct a 95% confidence interval for the true difference between the mean home prices in the two areas. Round the endpoints of the interval to the nearest whole number, if necessary. Lowest Endpoint = upper Endpoint=
A mechanic sells a brand of automobile tire that has a life expectancy that is normally distributed, with a mean life of 36,000 miles and a standard deviation of 2100 miles. He wants to give a guarantee for free replacement of tires that don't wear well. How should he word his guarantee if he is willing to replace approximately 10% of the tires? Click to view page 1 of the table. Click to view page 2 of the table. CHE Tires that wear out by miles will be replaced free of charge. (Round to the nearest mile as needed.)
For her test grades, Gena has a mean = 65 and standard deviation = 25. Patti has a mean = 65 and standard deviation = 5. For which of the students can you more accurately predict the next test score, and why? Consider the variability of scores. Who is more likely to do either extremely well or extremely poorly on the next exam, and why? Explain the reason for adjusting the formula of the standard deviation/variance with n - 1 in the denominator?
Loretta, who turns 91 this year, has heard that the mean systolic blood pressure among the elderly is 120 millimeters of mercury (mm Hg), but she believes that the actual value is higher. She bases her belief on a recently reported study of 19 randomly selected, elderly adults. The sample mean systolic blood pressure of the adults in the study was 121 mm Hg , and the sample standard deviation was 20 mm Hg. Assume that the population of systolic blood pressures of elderly adults is normally distributed. Based on the study, at the 0.1 level of significance, can it be concluded that μ , the mean systolic blood pressure among elderly adults, is greater than 120 mm Hg? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places and round your answers as specified in the table. (a) State the null hypothesis H0? and the alternative hypothesis H1? . H0:? H1:? (b) Determine the type of test statistic to…
A mechanic sells a brand of automobile tire that has a life expectancy that is normally distributed, with a mean life of 35,000 miles and a standard deviation of 2100 miles. He wants to give a guarantee for free replacement of tires that don't wear well. How should he word his guarantee if he is willing to replace approximately 10% of the tires? Click to view page 1 of the table. Click to view page 2 of the table. Tires that wear out by miles will be replaced free of charge. (Round to the nearest mile as needed.)
Two estimates are available for the same population parameter. Estimate one has a standard deviation of 8.5 and estimate two has a standard deviation of 8.7. Estimate two is unbiased, whereas estimate one is biased. Which estimate would you choose and why?
A newspaper article reports that the mean cost for preventative dental care per year is $175 with a standard deviation of $35 (assume that this is the population standard deviation). You want to test whether the mean cost for preventative dental care in your company is different from what was reported in the article. You take a random sample of 250 employees and find the mean cost is $171. Does this signficantly differ from what was reported in the article? Run the appropriate test at α=0.05. Give each of the following to receive full credit: 1) the appropriate null and alternative hypotheses; 2) the appropriate test; 3) the decision rule; 4) the calculation of the test statistic; and 5) your conclusion including a comparison to alpha or the critical value. You MUST show your work to receive full credit. Partial credit is available.
A parenting magazine reports that the average amount of wireless data used by teenagers each month is 5 Gb. For her science fair project, Ella sets out to prove the magazine wrong. She claims that the mean among teenagers in her area is less than reported. Ella collects information from a simple random sample of 25 teenagers at her high school, and calculates a mean of 4.7 Gb per month with a standard deviation of 0.9 Gb per month. Assume that the population distribution is approximately normal. Test Ella's claim at the 0.01 level of significance. Step 3 of 3: Draw a conclusion and interpret the decision. E Tables E Keypad Answer Keyboard Shortcuts We reject the null hypothesis and conclude that there is sufficient evidence at a 0.01 level of significance that the average amount of wireless data used by teenagers each month is less than 5 Gb. We fail to reject the null hypothesis and conclude that there is insufficient evidence at a 0.01 level of significance that the average amount of…
A sociologist found that in a sample of 45 retired men, the average number of jobs they had during theirlifetimes was 7.2. The population standard deviation is 2.3(a) Find the best point estimate of the mean.The best point estimate of the mean is

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