You may need to use the appropriate appendix table or technology to answer this question. A magazine conducts an annual survey in which readers rate their favorite cruise ship. All ships are rated on a 100-point scale, with higher values indicating better service. A sample of 35 ships that carry fewer than 500 passengers resulted in an average rating of 85.62, and a sample of 44 ships that carry 500 or more passengers provided an average rating of 81.80. Assume that the population standard deviation is 4.55 for ships that carry fewer than 500 passengers and 3.97 for ships that carry 500 or more passengers. (a) What is the point estimate of the difference between the population mean rating for ships that carry fewer than 500 passengers and the population mean rating for ships. that carry 500 or more passengers? (Use smaller cruise ships - larger cruise ships.) 3.82 (b) At 95% confidence, what is the margin of error? (Round your answer to two decimal places.) (c) What is a 95% confidence interval estimate of the difference between the population mean ratings for the two sizes of ships? (Use smaller cruise ships - larger cruise ships. Round your answers to two decimal places.) to

You may need to use the appropriate appendix table or technology to answer this question. A magazine conducts an annual survey in which readers rate their favorite cruise ship. All ships are rated on a 100-point scale, with higher values indicating better service. A sample of 35 ships that carry fewer than 500 passengers resulted in an average rating of 85.62, and a sample of 44 ships that carry 500 or more passengers provided an average rating of 81.80. Assume that the population standard deviation is 4.55 for ships that carry fewer than 500 passengers and 3.97 for ships that carry 500 or more passengers. (a) What is the point estimate of the difference between the population mean rating for ships that carry fewer than 500 passengers and the population mean rating for ships. that carry 500 or more passengers? (Use smaller cruise ships - larger cruise ships.) 3.82 (b) At 95% confidence, what is the margin of error? (Round your answer to two decimal places.) (c) What is a 95% confidence interval estimate of the difference between the population mean ratings for the two sizes of ships? (Use smaller cruise ships - larger cruise ships. Round your answers to two decimal places.) to

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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