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*To help make a decision about expansion plans, the president of a music company needs to know how many CD's teenagers buy annually. 900 teenagers are selected; each reports the number of CD's bought within the last 12 months. The responses have a sample mean of 2.5. The (population) standard deviation o is 3 a) Construct 99, 95 percent confidence intervals for the 'true' average number of CD's bought by teenagers in a year and interpret the results. b) What sample size should be chosen to estimate the number of CD's bought by teenagers, within two (+1) CDs with 99% confidence?

*To help make a decision about expansion plans, the president of a music company needs to know how many CD's teenagers buy annually. 900 teenagers are selected; each reports the number of CD's bought within the last 12 months. The responses have a sample mean of 2.5. The (population) standard deviation o is 3 a) Construct 99, 95 percent confidence intervals for the 'true' average number of CD's bought by teenagers in a year and interpret the results. b) What sample size should be chosen to estimate the number of CD's bought by teenagers, within two (+1) CDs with 99% confidence?

MATLAB: An Introduction with Applications
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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*To help make a decision about expansion plans, the president of a music company needs to know how many CD's teenagers buy annually. 900 teenagers are selected; each reports the number of CD's bought within the last 12 months. The responses have a sample mean of 2.5. The (population) standard deviation o is 3 a) Construct 99, 95 percent confidence intervals for the 'true' average number of CD's bought by teenagers in a year and interpret the results. b) What sample size should be chosen to estimate the number of CD's bought by teenagers, within two (+1) CDs with 99% confidence?
Transcribed Image Text:*To help make a decision about expansion plans, the president of a music company needs to know how many CD's teenagers buy annually. 900 teenagers are selected; each reports the number of CD's bought within the last 12 months. The responses have a sample mean of 2.5. The (population) standard deviation o is 3 a) Construct 99, 95 percent confidence intervals for the 'true' average number of CD's bought by teenagers in a year and interpret the results. b) What sample size should be chosen to estimate the number of CD's bought by teenagers, within two (+1) CDs with 99% confidence?
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