Statistics for Business & Economics, Revised (MindTap Course List)
Statistics for Business & Economics, Revised (MindTap Course List)
12th Edition
ISBN: 9781285846323
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: South-Western College Pub
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Estimation
A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.
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Chapter 7.5, Problem 18E

A population has a mean of 200 and a standard deviation of 50. A sample of size 100 will be taken and the sample mean x ¯ will be used to estimate the population mean.

  1. a. What is the expected value of x ¯ ?
  2. b. What is the standard deviation of x ¯ ?
  3. c. Show the sampling distribution of x ¯ .
  4. d. What does the sampling distribution of x ¯ show?
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Chapter 7 Solutions

Statistics for Business & Economics, Revised (MindTap Course List)

Ch. 7.2 - Consider a finite population with five elements...Ch. 7.2 - Assume a finite population has 350 elements. Using...Ch. 7.2 - Fortune publishes data on sales, profits, assets,...Ch. 7.2 - The 10 most active stocks on the New York Stock...Ch. 7.2 - A student government organization is interested in...Ch. 7.2 - The County and City Data Book, published by the...Ch. 7.2 - Assume that we want to identify a simple random...Ch. 7.2 - The following stocks make up the Dow Jones...Ch. 7.2 - The Wall Street Journal provides the net asset...Ch. 7.2 - Indicate which of the following situations involve...
Ch. 7.3 - The following data are from a simple random...Ch. 7.3 - A survey question for a sample of 150 individuals...Ch. 7.3 - A sample of 5 months of sales data provided the...Ch. 7.3 - BusinessWeek published information on 283 equity...Ch. 7.3 - Many drugs used to treat cancer are expensive....Ch. 7.3 - A sample of 426 U.S. adults age 50 and older were...Ch. 7.3 - The American Association of Individual Investors...Ch. 7.5 - A population has a mean of 200 and a standard...Ch. 7.5 - A population has a mean of 200 and a standard...Ch. 7.5 - Assume the population standard deviation is = 25....Ch. 7.5 - Suppose a random sample of size 50 is selected...Ch. 7.5 - Refer to the EAI sampling problem. Suppose a...Ch. 7.5 - In the EAI sampling problem (see Figure 7.5), we...Ch. 7.5 - Barrons reported that the average number of weeks...Ch. 7.5 - The College Board reported the following mean...Ch. 7.5 - The mean annual cost of automobile insurance is...Ch. 7.5 - The Economic Policy Institute periodically issues...Ch. 7.5 - The average score for male golfers is 95 and the...Ch. 7.5 - The mean preparation fee HR Block charged retail...Ch. 7.5 - To estimate the mean age for a population of 4000...Ch. 7.6 - A sample of size 100 is selected from a population...Ch. 7.6 - A population proportion is .40. A sample of size...Ch. 7.6 - Assume that the population proportion is .55....Ch. 7.6 - The population proportion is .30. What is the...Ch. 7.6 - The president of Doerman Distributors, Inc.,...Ch. 7.6 - The Wall Street Journal reported that the age at...Ch. 7.6 - People end up tossing 12% of what they buy at the...Ch. 7.6 - Forty-two percent of primary care doctors think...Ch. 7.6 - In 2008 the Better Business Bureau settled 75% of...Ch. 7.6 - The Grocery Manufacturers of America reported that...Ch. 7.6 - The Food Marketing Institute shows that 17% of...Ch. 7 - U.S. News World Report publishes comprehensive...Ch. 7 - The latest available data showed health...Ch. 7 - Foot Locker uses sales per square foot as a...Ch. 7 - The mean television viewing time for Americans is...Ch. 7 - After deducting grants based on need, the average...Ch. 7 - Three firms carry inventories that differ in size....Ch. 7 - A researcher reports survey results by stating...Ch. 7 - A production process is checked periodically by a...Ch. 7 - About 28% of private companies are owned by women...Ch. 7 - A market research firm conducts telephone surveys...Ch. 7 - Advertisers contract with Internet service...Ch. 7 - The proportion of individuals insured by the...Ch. 7 - Lori Jeffrey is a successful sales representative...
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