The price-earnings ratios for all companies whose shares are traded on the TSX follow a normal distribution with astandard deviation of 4.8. A random sample of these companies is selected in order to estimate the population meanprice-earnings ratio. How large a sample is necessary in order to ensure that the probability that the sample mean differsfrom the population mean by more than 2.0 is less than 2%?Type your numerical answer here.Numbera only

Answered: The price-earnings ratios for all…

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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Tom's commuting time from his residence in Carmel to the IUPUI campus has a normal distribution. The standard deviation of the commuting time is 8 minutes. The fraction of commutes that last less than 40 minutes is 0.30 (30%). What is the mean commuting time? What is the probability that the commuting time would exceed 60 minutes? Below what commuting time 10% of commutes take place? 90% commuting times fall between _______ and _______ minutes.
The shelf life of a perishable product is a random variable that is related to customer acceptance and, ultimately, to sales and profit. Suppose the shelf life of a particular soft drink is best approximated by a normal distribution with a mean of 180 days and standard deviation 20 days. What fraction of the product will still be fresh after 5 months on the shelf?
The heart rate of 20 patients in the ICU have a mean of 95.3 beats per minute and a standard deviation of 19.6 beats per minute. Are heart rates from the ICU patients unusual given a normal heart rate has a mean of 72 beats per minute? What is the t-stastic?
Assume the random variable X is normally distributed with mean 50 and standard deviation of 7. What is the 86th percentile?
A marketing researcher wants to estimate the mean amount spent per year ($) on a web site by membership member shoppers. Suppose a random sample of 100 membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of $55 and a standard deviation of $52. Complete parts (a) and (b) below. a. Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from $51? (Use a 0.01 level of significance.) State the null and alternative hypotheses. Ho: H (Type integers or decimals. Do not round. Do not include the $ symbol in your answer.) Identify the critical value(s). The critical value(s) is/are (Type an integer or a decimal. Round to two decimal places as needed. Use a comma to separate answers as needed.) Determine the test statistic. The test statistic, 1STAT, is (Type an integer or a decimal. Round to two decimal places as needed.) State the conclusion. Ho. There is evidence that the…
SAT math scores are normally distributed with mean (524) and a standard deviation (95). If 1800 SAT math scores are randomly selected, about how many would be expected to be greater than 545?
In an experiment the sorption was measured for a variety of hazardous organic chloroalkane solvents. The sample measurements were; 1.28, 1.35, 0.57, 1.16, 1.12, 0.91, 0.83, 0.43 Assuming that measurements are normally distributed. i. What is the mean of the sample for sorption of chloroalkane solvents. ii. What is the standard error of the mean for the sample for the organic chloroalkane solvents? iii. What the margin of error of the 90% confidence intervals for the population mean of sorption of chloroalkane solvents. iv. What is the upper limit for the 90% confidence intervals for the population mean of sorption of chloroalkane solvents.
A large financial company employs a human resources mamanger who is in charge of employe benefits. The manger wishes to estimate the average dental expenses per employee for the company. She selects a random sample of 60 employee records for the past year and determines that the sample mean of $492. Moreover, it is known from past studies that the population standard deviation for annual dental expenses is $74. Use this data to calculate a 95% cofidence interval for the mean expenses of all employees.
The grade point average for ALL juniors at a large college has a standard deviation of 0.50. A random sample of 20 students is to be used to estimate the population mean grade point average. What condition do you need to verify prior to computing the probability of obtaining a sample mean within plus or minus 0.2 of the population mean?
Assume all populations are normally distributed. A travel analyst claims that the mean price of a round trip flight from New York City to Los Angeles is less than $507. In a random sample of 55 round trip flights from NYC to LA, the mean price is $502. Assume the population standard deviation is $111. At α = 0.05, is there enough evidence to support the travel analyst’s claim?
The salaries of professional baseball players are heavily skewed right with a mean of $3.2 million and a standard deviation of $2 million. The salaries of professional football players are also heavily skewed right with a mean of $1.9 million and a standard deviation of $1.5 million. A random sample of 40 baseball players’ salaries and 35 football players’ salaries is selected. The mean salary is determined for both samples. Let represent the difference in the mean salaries for baseball and football players. Which of the following represents the shape of the sampling distribution for ? skewed right since the populations are both right skewed skewed right since the differences in salaries cannot be negative approximately Normal since both sample sizes are greater than 30 approximately Normal since the sum of the sample sizes is greater than 30
Researchers investigated the drought-resistance of five varieties of potatoes: SA- 2563, Sullu, Perricholi, Puca Pishgush, and Cceccorani. (For ease of analysis, we will label these varieties 1-5, respectively). They wanted to determine if the size of the potatoes produced by these varieties was the same under drought conditions. To control for variability in the land, each of the five varieties was planted in one of seven plots of land. The total mass (in grams) of the potatoes produced by each plant was recorded. Larger values are more desirable. a)What is the response variable in the study? b)What is the factor variable? c)What is the blocking variable?

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