Bundle: Understandable Statistics, Loose-leaf Version, 12th + WebAssign Printed Access Card for Brase/Brase's Understandable Statistics: Concepts and Methods, 12th Edition, Single-Term

12th Edition

ISBN: 9781337605182

Author: Charles Henry Brase, Corrinne Pellillo Brase

Publisher: Cengage Learning

See similar textbooks

Videos

Textbook Question

100%

Chapter 7.2, Problem 12P

Basic Computation: Confidence Interval A random sample of size 81 has sample mean 20 and sample standard deviation 3.

(a) Check Requirements Is it appropriate to use a Student’s t distribution to compute a confidence interval for the population mean μ? Explain.
(b) Find a 95% confidence interval for μ.
(c) Interpretation Explain the meaning of the confidence interval you computed.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 7.2, Problem 11P

Chapter 7.2, Problem 13P

Students have asked these similar questions

2 (VaR and ES) Suppose X1 are independent. Prove that ~ Unif[-0.5, 0.5] and X2 VaRa (X1X2) < VaRa(X1) + VaRa (X2). ~ Unif[-0.5, 0.5]

8 (Correlation and Diversification) Assume we have two stocks, A and B, show that a particular combination of the two stocks produce a risk-free portfolio when the correlation between the return of A and B is -1.

9 (Portfolio allocation) Suppose R₁ and R2 are returns of 2 assets and with expected return and variance respectively r₁ and 72 and variance-covariance σ2, 0%½ and σ12. Find −∞ ≤ w ≤ ∞ such that the portfolio wR₁ + (1 - w) R₂ has the smallest risk.

Chapter 7 Solutions

Bundle: Understandable Statistics, Loose-leaf Version, 12th + WebAssign Printed Access Card for Brase/Brase's Understandable Statistics: Concepts and Methods, 12th Edition, Single-Term

Ch. 7.1 - Basic Computation: Confidence Interval Suppose x...Ch. 7.1 - Basic Computation: Confidence Interval Suppose x...Ch. 7.1 - Basic Computation: Sample Size Suppose x has a...Ch. 7.1 - Basic Computation: Sample Size Suppose x has a...Ch. 7.1 - Zoology: Hummingbirds Allens hummingbird...Ch. 7.1 - Diagnostic Tests: Uric Acid Overproduction of uric...Ch. 7.1 - Diagnostic Tests: Plasma Volume Total plasma...Ch. 7.1 - Agriculture: Watermelon What price do farmers get...Ch. 7.1 - Prob. 19P Ch. 7.1 - Confidence Intervals: Values of A random sample...Ch. 7.1 - Confidence Intervals: Sample Size A random sample...Ch. 7.1 - Ecology: Sand Dunes At wind speeds above 1000...Ch. 7.1 - Prob. 23P Ch. 7.1 - Prob. 24P Ch. 7.1 - Prob. 25P Ch. 7.2 - Use Table 6 of Appendix II to find tc for a 0.95...Ch. 7.2 - Prob. 2P Ch. 7.2 - Prob. 3P Ch. 7.2 - Prob. 4P Ch. 7.2 - Prob. 5P Ch. 7.2 - Prob. 6P Ch. 7.2 - Prob. 7P Ch. 7.2 - Prob. 8P Ch. 7.2 - Prob. 9P Ch. 7.2 - Prob. 10P Ch. 7.2 - Basic Computation: Confidence Interval Suppose x...Ch. 7.2 - Basic Computation: Confidence Interval A random...Ch. 7.2 - In Problems 1319, assume that the population of x...Ch. 7.2 - In Problems 1319, assume that the population of x...Ch. 7.2 - In Problems 1319, assume that the population of x...Ch. 7.2 - In Problems 1319, assume that the population of x...Ch. 7.2 - In Problems 1319, assume that the population of x...Ch. 7.2 - Prob. 18P Ch. 7.2 - Prob. 19P Ch. 7.2 - Prob. 20P Ch. 7.2 - Prob. 21P Ch. 7.2 - Prob. 22P Ch. 7.2 - Prob. 23P Ch. 7.3 - For all these problems, carry at least four digits...Ch. 7.3 - Prob. 2P Ch. 7.3 - Prob. 3P Ch. 7.3 - Prob. 4P Ch. 7.3 - For all these problems, carry at least four digits...Ch. 7.3 - Prob. 6P Ch. 7.3 - Prob. 7P Ch. 7.3 - Prob. 8P Ch. 7.3 - Prob. 9P Ch. 7.3 - For all these problems, carry at least four digits...Ch. 7.3 - Prob. 11P Ch. 7.3 - Prob. 12P Ch. 7.3 - Prob. 13P Ch. 7.3 - For all these problems, carry at least four digits...Ch. 7.3 - Prob. 15P Ch. 7.3 - Prob. 16P Ch. 7.3 - Prob. 17P Ch. 7.3 - Prob. 18P Ch. 7.3 - Prob. 19P Ch. 7.3 - Prob. 20P Ch. 7.3 - Prob. 21P Ch. 7.3 - Prob. 22P Ch. 7.3 - Prob. 23P Ch. 7.3 - Prob. 24P Ch. 7.3 - Prob. 25P Ch. 7.3 - Prob. 26P Ch. 7.3 - Prob. 27P Ch. 7.3 - Prob. 28P Ch. 7.4 - Prob. 1P Ch. 7.4 - Prob. 2P Ch. 7.4 - Prob. 3P Ch. 7.4 - Prob. 4P Ch. 7.4 - Prob. 5P Ch. 7.4 - Prob. 6P Ch. 7.4 - Prob. 7P Ch. 7.4 - Prob. 8P Ch. 7.4 - Prob. 9P Ch. 7.4 - Prob. 10P Ch. 7.4 - Prob. 11P Ch. 7.4 - Prob. 12P Ch. 7.4 - Prob. 13P Ch. 7.4 - Prob. 14P Ch. 7.4 - Prob. 15P Ch. 7.4 - Prob. 16P Ch. 7.4 - Answers may vary slightly due to rounding....Ch. 7.4 - Prob. 18P Ch. 7.4 - Prob. 19P Ch. 7.4 - Prob. 20P Ch. 7.4 - Prob. 21P Ch. 7.4 - Prob. 22P Ch. 7.4 - Prob. 23P Ch. 7.4 - Prob. 24P Ch. 7.4 - Prob. 25P Ch. 7.4 - Prob. 26P Ch. 7.4 - Prob. 27P Ch. 7.4 - Prob. 28P Ch. 7.4 - Prob. 29P Ch. 7.4 - Prob. 30P Ch. 7.4 - Prob. 31P Ch. 7 - Prob. 1CRP Ch. 7 - Critical Thinking Suppose you are told that a 95%...Ch. 7 - Prob. 3CRP Ch. 7 - Prob. 4CRP Ch. 7 - Prob. 5CRP Ch. 7 - For Problems 419, categorize each problem...Ch. 7 - Prob. 7CRP Ch. 7 - For Problems 419, categorize each problem...Ch. 7 - Prob. 9CRP Ch. 7 - For Problems 419, categorize each problem...Ch. 7 - For Problems 419, categorize each problem...Ch. 7 - For Problems 419, categorize each problem...Ch. 7 - Prob. 13CRP Ch. 7 - Prob. 14CRP Ch. 7 - Prob. 15CRP Ch. 7 - For Problems 419, categorize each problem...Ch. 7 - Prob. 17CRP Ch. 7 - Prob. 18CRP Ch. 7 - Prob. 19CRP Ch. 7 - Prob. 1DH Ch. 7 - Prob. 2DH Ch. 7 - Prob. 3DH Ch. 7 - Prob. 1LC Ch. 7 - Prob. 2LC Ch. 7 - Prob. 3LC Ch. 7 - Prob. 1UT

Knowledge Booster

$Statistics$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Solution Summary: The author explains that it is appropriate to use Student's t distribution to compute a confidence interval for the population mean.

Videos

Want to see the full answer?

Chapter 7 Solutions