### Independent Simple Random Samples - Example ProblemSuppose population 1 is all blue cars sold at used car auctions, and the mean sale price of all such blue cars is $24,579 with a standard deviation of $3,691. Additionally, suppose population 2 is all red cars sold at used car auctions, and the mean sale price of all such red cars is $21,948 with a standard deviation of $4,028.If a simple random sample of 47 blue cars sold at used car auctions is selected and the mean sale price of the 47 blue cars in the sample is determined, and if an independent simple random sample of 59 red cars sold at used car auctions is selected and the mean sale price of the 59 red cars in the sample is determined, describe completely the sampling distribution of $ X_1 - X_2 $.#### 1. Do we have 2 independent simple random samples?- No- YesThis problem involves comparing two independent populations (blue cars and red cars) using their respective sample statistics. The main objective is to understand the sampling distribution of the difference between the mean sale prices of blue and red cars. To answer the question, it is essential to know that each sample (blue cars and red cars) is chosen independently and randomly from their respective populations.

Given Sales of red cars and blue cars and few other parameters.we need to find whether it has 2…

Answered: Suppose population 1 is all blue cars…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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A regional airline serving Las Vegas has a base airfare rate of $99. In addition, various fees are charged: for checked baggage, refreshments/drinks in-flight, and for making a reservation on its website. These additional charges average $70 per passenger. Suppose a random sample of 59 passengers is taken to determine the total cost of their flight. The population standard deviation of total flight cost is known to be $40. (a) What is the population mean cost per flight in dollars? $ (b) What is the probability the sample mean will be within $10 of the population mean cost per flight? (Round your answer to four decimal places.) (c) What is the probability the sample mean will be within $5 of the population mean cost per flight? (Round your answer to four decimal places.)
Suppose that Randy is an analyst for the bicyling industry and wants to estimate the asking price of used entry-level road bikes advertised online in the southeastern part of the United States. He obtains a random sample of ?=11 online advertisements of entry-level road bikes. He determines that the mean price for these 11 bikes is ?⎯⎯⎯=$703.75 and that the sample standard deviation is ?=$189.56. He uses this information to construct a 95% confidence interval for ?, the mean price of a used road bike. a) What is the lower limit of this confidence interval? Please give your answer to the nearest cent. b) What is the upper limit of this confidence interval? Please give your answer to the nearest cent.
Insurance Company A claims that its customers pay less for car insurance, on average, than customers of its competitor, Company B. You wonder if this is true, so you decide to compare the average monthly costs of similar insurance policies from the two companies. For a random sample of 13 people who buy insurance from Company A, the mean cost is $150 per month with a standard deviation of $19. For 9 randomly selected customers of Company B, you find that they pay a mean of $157 per month with a standard deviation of $16. Assume that both populations are approximately normal and that the population variances are equal to test Company A's claim at the 0.05 level of significance. Let customers of Company A be Population 1 and let customers of Company B be Population 2. Step 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below. Ho: M₁ = μ₂ Ha:M₁ •H₂
For a new study conducted by a fitness magazine, 220 females were randomly selected. For each, the mean daily calorie consumption was calculated for a September-February period. A second sample of 260 females was chosen independently of the first. For each of them, the mean daily calorie consumption was calculated for a March-August period. During the September-February period, participants consumed a mean of 2385.8 calories daily with a standard deviation of 218. During the March-August period, participants consumed a mean of 2414.2 calories daily with a standard deviation of 267.5. The population standard deviations of daily calories consumed for females in the two periods can be estimated using the sample standard deviations, as the samples that were used to compute them were quite large. Construct a 90% confidence interval for −μ1μ2, the difference between the mean daily calorie consumption μ1 of females in September-February and the mean daily calorie consumption μ2 of females…
One year, the distribution of salaries for professional sports players had a mean of $1.6 million and a standard deviation of $0.7 million. Suppose a sample of 100 major league players was taken. Find the approximate probability that the average salary of the 100 players that year exceeds $1.1 million.
A report about how American college students manage their finances includes data from a survey of college students. Each person in a representative sample of 793 college students was asked if they had one or more credit cards and if so, whether they paid their balance in full each month. There were 500 who paid in full each month. For this sample of 500 students, the sample mean credit card balance was reported to be $825. The sample standard deviation of the credit card balances for these 500 students was not reported, but for purposes of this exercise, suppose that it was $205. Is there convincing evidence that college students who pay their credit card balance in full each month have a mean balance that is lower than $907, the value reported for all college students with credit cards? Carry out a hypothesis test using a significance level of 0.01. State the appropriate null and alternative hypotheses. H0: ? = 907 Ha: ? < 907 H0: ? = 907 Ha: ? > 907 H0: ? < 907…
Insurance Company A claims that its customers pay less for car insurance, on average, than customers of its competitor, Company B. You wonder if this is true, so you decide to compare the average monthly costs of similar insurance policies from the two companies. For a random sample of 15 people who buy insurance from Company A, the mean cost is $154 per month with a standard deviation of $13. For 11 randomly selected customers of Company B, you find that they pay a mean of $159 per month with a standard deviation of $16. Assume that both populations are approximately normal and that the population variances are equal to test Company A’s claim at the 0.02 level of significance. Let customers of Company A be Population 1 and let customers of Company B be Population 2. Step 2 of 3 : Compute the value of the test statistic. Round your answer to three decimal places.
Insurance Company A claims that its customers pay less for car insurance, on average, than customers of its competitor, Company B. You wonder if this is true, so you decide to compare the average monthly costs of similar insurance policies from the two companies. For a random sample of 12people who buy insurance from Company A, the mean cost is $153 per month with a standard deviation of $16. For 15 randomly selected customers of Company B, you find that they pay a mean of $160 per month with a standard deviation of $10. Assume that both populations are approximately normal and that the population variances are equal to test Company A’s claim at the 0.10 level of significance. Let customers of Company A be Population 1 and let customers of Company B be Population 2. Step 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below. H0: μ1=μ2 Ha: μ1_____μ2 Step 2 of 3: Compute the value of the test statistic. Round your answer to three decimal places Step 3 of…
A recent Gallup Poll interviewed a random sample of 1523 adults. Of these, 868 bought a lottery tickets in the past year. Suppose that in fact (unknown to Gallup) exactly 60% of all adults bought a lottery ticket in the past year. If Gallup took many simple random samples of 1,523 people, the sample proportion who bought a ticket would vary from sample to sample. The sampling distribution would be close to normal with a mean of 0.6 and a standard deviation of___ A)0.4899 B)0.0251 C)0.00016 D)0.0126
An article in American Demographics claims that more than twice as many shoppers are out shopping on the weekends than during the week. Not only that, such shoppers also spend more money on their purchases on Saturdays and Sundays! Suppose that the amount of money spent at shopping centers between 4 p.m. and 6 p.m. on Sundays has a normal distribution with mean $195 and with a standard deviation of $20. A shopper is randomly selected on a Sunday between 4 p.m. and 6 p.m. and asked about his spending patterns. What is the probability that he has spent between $205 and $225 at the mall? (Round your answer to four decimal places.)
A. The salaries of pharmacy techs are normally distributed with a mean of $33,000 and a standard deviation of $4,000. If a pharmacy tech is selected at random, what is the probability they make more than $38,000? The answer should be typed as a decimal with 4 decimal places. B. The salaries of pharmacy techs are normally distributed with a mean of $33,000 and a standard deviation of $4,000. What is the minimum salary to be considered the top 6%? Round final answer to the nearest whole number. C. The average number of shoppers at a particular grocery store in one day is 505, and the standard deviation is 115. The number of shoppers is normally distributed. For a random day, what is the probability that there are between 250 and 450 shoppers at the grocery store? The answer should be typed as a decimal with 4 decimal places.
Insurance Company A claims that its customers pay less for car insurance, on average, than customers of its competitor, Company B. You wonder if this is true, so you decide to compare the average monthly costs of similar insurance policies from the two companies. For a random sample of 1313 people who buy insurance from Company A, the mean cost is $151$⁢151 per month with a standard deviation of $16$⁢16. For 99 randomly selected customers of Company B, you find that they pay a mean of $158$⁢158 per month with a standard deviation of $19$⁢19. Assume that both populations are approximately normal and that the population variances are equal to test Company A’s claim at the 0.050.05 level of significance. Let customers of Company A be Population 1 and let customers of Company B be Population 2. Step 2 of 3: Compute the value of the test statistic. Round your answer to three decimal places.

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