You would like to construct a 99% confidence interval to estimate the population mean score on a nationwide examination in finance, and for this purpose wechoose a random sample of exam scores. The sample we choose has a mean of 514 and a standard deviation of 70.(a) What is the best point estimate, based on the sample, to use for the population mean?(b) For each of the following sampling scenarios, determine which distribution should be used to calculate the critical valuefor the 99% confidence interval for the population mean.(In the table, 2 refers to a standard normal distribution, and refers to ar distribution.)CheckSampling scenarioThe sample has size 11, and it is from a normally distributedpopulation with an unknown standard deviation.The sample has size 105, and it is from a non-normally distributedpopulation with a known standard deviation of 77.The sample has size 75, and it is from a non-normally distributedpopulation.O1OOOOOCould useeither ZorOOOUnclearOOOSave For LaterGSubesit Assignment

As we know that sample mean is an unbiased estimate of the population mean. also it is a consistent…

Answered: You would like to construct a 99%…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

You would like to construct a 99% Confidence interval to estimate the population mean price of milk (per gallon) in your city. You select a random sample of prices from different stores. The sample has a mean of 3.74 dollars and a standard deviation of 0.25 dollars. (a) What is the best point estimate, based on the sample, to use for the population mean? Aa O dollars (b) For each of the following sampling scenarios, determine which distribution should be used to calculate the critical value for the 99% confidence interval for the population mean. (In the table, z refers to a standard normal distribution, and i refers to a t distribution.) Could use Sampling scenario Unclear either Z or t ? The sample has size 105, and it is from a non-normally distributed population with a known standard deviation of 0.24. The sample has size 90, and it is from a non-normally distributed population. The sample has size 20, and it is from a normally distributed population with an unknown standard…
You would like to construct a 95% confidence interval to estimate the population mean annual income for people over age 40 in your state. You choose a random sample of such incomes and compute the mean of the sample as 40,346 dollars with a standard deviation of 7757 dollars. (a) What is the best point estimate, based on the sample, to use for the population mean? dollars G (b) For each of the following sampling scenarios, determine which distribution should be used to calculate the critical value for the 95% confidence interval for the population mean. (In the table, Z refers to a standard normal distribution, and refers to a t distribution.) Sampling scenario z t Could use either Z or / Unclear The sample has size 14, and it is from a normally distributed population with an unknown standard deviation. о о The sample has size 17, and it is from a population with a distribution about which we know very little. O о The sample has size 110, and it is from a non-normally distributed…
You would like to construct a 99% confidence interval to estimate the population mean price of milk (per gallon) in your city. You select a random sample of prices from different stores. The sample has a mean of 3.66 dollars and a standard deviation of 0.20 dollars. (a) What is the best point estimate, based on the sample, to use for the population mean? O dollars (b) For each of the following sampling scenarios, determine which distribution should be used to calculate the critical value for the 99% confidence interval for the population mean. (In the table, Z refers to a standard normal distribution, and t refers to at distribution.) Could use Sampling scenario Unclear either Z or t The sample has size 17, and it is from a normally distributed population with a known standard deviation of 0.26. The sample has size 80, and it is from a non-normally distributed population. The sample has size 13, and it is from a normally distributed population with an unknown standard deviation.
You would like to construct a 90% confidence interval to estimate the population mean score on a nationwide examination in finance, and for this purpose we choose a random sample of exam scores. The sample we choose has a mean of 502 and a standard deviation of 75. (a) What is the best point estimate, based on the sample, to use for the population mean? 0 (b) For each of the following sampling scenarios, determine which distribution should be used to calculate the critical value for the 90% confidence interval for the population mean. (In the table, Z refers to a standard normal distribution, and / refers to at distribution.) Sampling scenario The sample has size 85, and it is from a non-normally distributed population. The sample has size 10, and it is from a normally distributed population with a known standard deviation of 76. The sample has size 16, and it is from a normally distributed population with an unknown standard deviation. Z O O t O O Could use either Zor t O O Unclear O…
a researcher wishes to develop an interval estimate for response scores on user surveys. She's not sure about the standard deviation, but in previous years the scores have ranged from 25 to 86. How large a sample should she draw if she wants to construct a 95% confidence interval level that will be within 3 points of the population mean score?
You would like to construct a 95% confidence interval to estimate the population mean score on a nationwide examination in psychology, and for this purpose we choose a random sample of exam scores. The sample we choose has a mean of 511 and a standard deviation of 71. (a) What is the best point estimate, based on the sample, to use for the population mean? X ? (b) For each of the following sampling scenarios, determine which distribution should be used to calculate the critical value for the 95% confidence interval for the population mean. (In the table, Z refers to a standard normal distribution, and t refers to a t distribution.)
An IQ test is designed so that the mean is 100 and the standard deviation is 24 for the population of normal adults. Find the sample size necessary to estimate the mean IQ score of statistics students such that it can be said with 90% confidence that the sample mean is within 8 IQ points of the true mean. Assume that o = 24 and determine the required sample size using technology. Then determine if this is a reasonable sample size for a real world calculation. ... The required sample size is. (Round up to the nearest integer.) Would it be reasonable to sample this number of students? O No. This number of IQ test scores is a fairly small number. Yes. This number of IQ test scores is a fairly small number. Yes. This number of IQ test scores is a fairly large number. No. This number of IQ test scores is a fairly large number.
You would like to construct a 99% confidence interval to estimate today's population mean temperature, so you make a series of measurements (a random sample) throughout the day. The mean of these measurements is 58.5 degrees Fahrenheit, and their standard deviation is 3.0 degrees Fahrenheit. For each of the following sampling scenarios, determine which distribution should be used to calculate the critical value for the 99% confidence interval for the population mean.(In the table, Z refers to a standard normal distribution, and t refers to a t distribution.)
Part d and the next picture
You are interested in estimating the the mean weight of the local adult population of female white-tailed deer (doe). From past data, you estimate that the standard deviation of all adult female white-tailed deer in this region to be 17 pounds. What sample size would you need to in order to estimate the mean weight of all female white-tailed deer, with a 96% confidence level, to within 7 pounds of the actual weight? Sample Size:

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS