5. Interval estimation when o is knownThe Wall Street Journal reported that automobile crashes cost the United States $162 billionannually (The Wall Street Journal, March 5, 2008). The average cost per person for crashesin the Tampa, Florida, area was reported to be $1599. Suppose this average cost was basedon a sample of 50 persons who had been involved in car crashes and that the population stan-dard deviation is o = $600. What is the margin of error for a 95% confidence interval? Whatwould you recommend if the study required a margin of error of $150 or less?

Margin of error (E): The margin of error for the sample mean when the population standard deviation…

Answered: The Wall Street Journal reported that…

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 survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 220 of 400 executives answered Yes, while in a previous year survey, 176 of 400 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at the two points in time. (Use current year − previous year. Round your answer to four decimal places.) to
In a survey, 19 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $42 and standard deviation of $4. Find the margin of error at a 98% confidence level.
The monthly advertising expenditure of the company is normally distributed with astandard deviation of $200. If a sample of 36 randomly selected months yields a meanadvertising expenditure of $1360 monthly, what is a 94% confidence interval for the mean ofthe company’s monthly advertising expenditure?
In a survey, 26 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $40 and standard deviation of $6. Find the margin of error at a 90% confidence level.
In a recent sample of 89 used cars sales costs, the sample mean was $6,225 with a standard deviation of $3,151. Assume the underlying distribution is approximately normal. Which distribution should you use for this problem? Construct a 95% confidence interval for the population mean cost of a used car.
In a study of treatments for very painful "cluster" headaches,... Find the 90% confidence interval using technology.
When Mendel conducted his famous genetics experiments with peas, one sample of offspring consisted of 428 green peas and 152 yellow peas. 3. a. Find a 99% confidence interval estimate of the percentage of yellow peas.
Suppose we wish to calculate a 90% confidence interval for the average amount spent on books by freshmen in their first year at a major university. The interval is to have a margin of error of $2. Assume that the amount spent on books by freshmen has a normal distribution with a standard deviation of $30. How many observations are required to achieve this margin of error?
In September a biological research team caught, weighed, and released a random sample of 24 chipmunks in Rocky Mountain National Park. The mean of the sample weights was x-bar = 8.7 oz. with sample standard deviation s = 1.4 oz. Find a 90% confidence interval for the mean September weight of all chipmunks in Rocky Mountain National Park.

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