Applied Statistics in Business and Economics

5th Edition

ISBN: 9780077837303

Author: David Doane, Lori Seward Senior Instructor of Operations Management

Publisher: McGraw-Hill Education

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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 8.2, Problem 1SE

Find the interval μ − z σ n , μ + z σ n within which 90 percent of the sample means would be expected to fall, assuming that each sample is from a normal population.

a. μ = 100, σ = 12, n = 36
b. μ = 2,000, σ = 15, n = 9
c. μ = 50, σ = 1, n = 25

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.

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Chapter 8.2, Problem 2SE

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Chapter 8 Solutions

Applied Statistics in Business and Economics

Ch. 8.2 - Find the interval zn,+zn within which 90 percent...Ch. 8.2 - Find the interval zn,+zn within which 95 percent...Ch. 8.2 - The diameter of bushings turned out by a...Ch. 8.2 - Concerns about climate change and CO2 reduction...Ch. 8.3 - (a) Find the standard error of the mean for each...Ch. 8.3 - (a) Find the standard error of the mean for each...Ch. 8.3 - The fat content of a pouch of Keebler Right Bites...Ch. 8.3 - The fuel economy of a 2011 Lexus RX 350 2WD 6...Ch. 8.4 - Construct a confidence interval for assuming that...Ch. 8.4 - Construct a confidence interval for assuming that...

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Find the interval μ − z σ n , μ + z σ n within which 90 percent of the sample means would be expected to fall, assuming that each sample is from a normal population. a. μ = 100, σ = 12, n = 36 b. μ = 2,000, σ = 15, n = 9 c. μ = 50, σ = 1, n = 25

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