The average selling price of a smartphone purchased by a random sample of 37 customers was $304. Assume thepopulation standard deviation was $33.a. Construct a 95% confidence interval to estimate the average selling price in the population with this sample.b. What is the margin of error for this interval?a. The 95% confidence interval has a lower limit of $(Round to the nearest cent as needed.)b. The margin of error is $...and an upper limit of $(Round to the nearest cent as needed.)

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Answered: The average selling price of a…

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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The average McDonald's restaurant generates $3.6 million in sales each year with a standard deviation of 0.9. Trent wants to know if the average sales generated by McDonald's restaurants in Kentucky is different than the worldwide average. He surveys 27 restaurants in Kentucky and finds the following data (in millions of dollars): 4.1, 2.8, 4.4, 4.5, 5.3, 5, 3.7, 2.9, 3.8, 4.8, 3.6, 2.3, 3.7, 2.9, 2.9, 4, 1.1, 5.2, 2.9, 5, 4, 4, 5.9, 3.2, 2.2, 4.3, 3.8 Perform a hypothesis test using a 3% level of significance. Step 1: State the null and alternative hypotheses. Ho: [? v] ? v На: ? ? v (So we will be performing a Select an answer test.) Step 2: Assuming the null hypothesis is true, determine the features of the distribution of point estimates using the Central Limit Theorem. By the Central Limit Theorem, we know that the point estimates are Select an answer v with distribution mean and distribution standard deviation Step 3: Find the p-value of the point estimate. P( ? v ? v = P( ? ♥ ?…
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Solve the following. Show your complete solution. The in-city gasoline mileage per gallon was computed for two economy automobiles, each for 40 tanks of gasoline. The mean and standard deviation of the mile per gallon readings were given in the following table. Find a 90% confidence interval for the difference in mean miles per gallon for the two automobiles. Interpret your result.
Title a. A random sample of 25 was drawn from a normal distribution with a standard deviation of 5. The... Description a. A random sample of 25 was drawn from a normal distribution with a standard deviation of 5. The sample mean is 80. Determine the 95% confidence interval estimate of the population mean. b. Repeat part (a) with a sample size of 100. c. Repeat part (a) with a sample size of 400. d. Describe what happens to the confidence interval estimate when the sample size increases.
Consider the data from the Anthropology 105 class. The mean for women is 64.33 in and the standard deviation is 2.64 in. The average height of men in the US is approximately 5ft 10in. What proportion of women represented here are shorter than the average man?
According to recent data by the American Marketing Association, 76.5%of people in the 18-24 age group used social media in 2017. You want to find out what the social media proportion is among your classmates who are all between 18 and 24 years old. Suppose you obtain a random sample of 229 students and find that 202 students in this sample are active social media users. Complete parts a through c below. a. Construct a 99% confidence interval to estimate the actual proportion of social media users. A 99% confidence interval to estimate the actual proportion has a lower limit of------ and an upper limit of------- (Round to three decimal places as needed.) b. What is the margin of error for this sample? c. Is there evidence that this proportion matches that of the overall population based on the sample?
In a survey, 22 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $33 and standard deviation of $14. Construct a confidence interval at a 95% confidence level. Give your answers to one decimal place. H Interpret your confidence interval in the context of this problem.
A. You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. If convenient, use technology to construct the confidence intervals. A random sample of 40 home theater systems has a mean price of $127.00. Assume the population standard deviation is $19.30. Construct a 90% confidence interval for the population mean. The 90% confidence interval is B. A study of lobster trap placement used a 95% confidence interval to estimate the mean trap spacing (in meters) for the population of red spiny lobster fishermen fishing in the west coast. How many teams of fisherman would need to be sampled in order to reduce the width of the confidence interval to 6 meters? Assume prior knowledge indicates that the trap spacing readings for the population of red spiny lobster taken during a day are approximately…
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A random sample of 64 shoppers showed that they spend an average of $27.31 per visit at the Sunday Mornings Bookstore. The standard deviation of the population is $2.14. Find the 90% confidence interval of the true mean. Please include all work showing how you found your answer.
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