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

The question is about confidence interval Given : Randomly selected no. of teenagers ( μ ) = 900…

Answered: *To help make a decision about…

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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You may need to use the appropriate technology to answer this question. Data were collected on the top 1,000 financial advisers. Company A had 239 people on the list and another company, Company B, had 121 people on the list. A sample of 16 of the advisers from Company A and 10 of the advisers from Company B showed that the advisers managed many very large accounts with a large variance in the total amount of funds managed. The standard deviation of the amount managed by advisers from Company A was s₁ = $583 million. The standard deviation of the amount managed by advisers from Company B was s₂ = $484 million. Conduct a hypothesis test at a = 0.10 to determine if there is a significant difference in the population variances for the amounts managed by the two companies. What is your conclusion about the variability in the amount of funds managed by advisers from the two firms? State the null and alternative hypotheses. 2 2 H₂:0 2 Find the value of the test statistic. (Round your answer…
Suppose the average credit card debt for Americans is $7000 and is not normallydistributed with a standard deviation of $2400. If we sample 40 Americans, find the probabilitythat the sample mean of credit card debt is less than $6500.
Question 3 ABC Restaurant has made a forecast for last week's operations vs Actual result of the forecast last week. Period Monday Tuesday Wednesday Thursday Friday Actual 112 110 113 120 140 Forecast 115. 1041 110 115 135 Using this table above, solve for Mean Absolute Percent Error (MAPE) Note Round up to the last 2 decimals, example 9.6568->9 66 3
Do students ever make up information for an assignment? You be the judge. Students in an applied psychology class were sent out to be observer 100 cars and report how many of the drivers wear wearing seat belts. Each student reported the number of drivers he or she saw wearing seat belts as his or her score. The mean for the class was 65, with the standard deviation of 7. One student, who had a reputation for not doing his assignments, reported seeing 42 belted drivers. Assuming the student actually counted, use the normal curve table to determine the probability that he observed 42 or fewer seat belt users. Based on this probability, do you suspect he made up the numbers rather than actually counting?
Jeff is doing an experiment involving mice. The mice weights have mean weight 2.37 ounces and standard deviation 0.053 ounces. Jeff selects 9 mice independently and calculates the sample mean, x̄, of their weights. What is the standard deviation of x̄?
A random sample of 120 cars in the drive-thru of a popular fast food restaurant revealed that the mean bill of $29.27 per car. The population standard deviation is $6.17. Find the mean bill for all cars from the drive-thru with 82% confidence.
Entrance exam scores at Cititon University are normally distributed with a mean of 552 and a standard deviation of 29. If scholarships are awarded to the top 10% of scores, what is the minimum score needed to guarantee a scholarship?
The college board reports that in a recent year, the mean mathematics SAT score was 514, and the standard deviation was 118. A sample of 65 scores is chosen. Find the 98th percentile of the sample mean.
Butt-to-knee length is approximately normally distributed with a mean of 23.1 inches and a standard deviation of 1.2. Theater seats are designed to be comfortable for as many adults as possible. If the seats are required to fit the middle 80% of the population, the seat must be comfortable for what butt-to-knee length range?
The weight loss for the first six months of a diet program is normally distributed with an average 40 pounds and a standard deviation of 20 pounds. How much weight would a participant have to loss to be in the 90th percentile?
The mean height of male college students in a large city is 68 inches and the standard deviation is 5 inches. What height would a male college student must have in order for the student's height to be the cutoff point for the 95th percentile? (What is the lowest height in the top 5%?)
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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