10th Edition

ISBN: 9780321989178

Author: Neil A. Weiss

Publisher: PEARSON

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Textbook Question

Chapter 8.3, Problem 150E

Christmas Spending. In a national poll of 1039 U.S. adults, conducted November 7–10. 2013, Gallup asked “Roughly how much money do you think you personally will spend on Christmas gifts this year?”. The data provided on the WeissStats site are based on the results of the poll.

a. Determine a 95% upper confidence bound for the mean amount spent on Christmas gifts in 2013. (Note: The sample mean and sample standard deviation of the data are $704.00 and $477.98, respectively.)
b. Interpret your result in part (a).
c. In 2012, the mean amount spent on Christmas gifts was $770. Comment on this information in view of your answer to part (b).

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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Chapter 8.3, Problem 149E

Chapter 8, Problem 1RP

Chapter 8 Solutions

Introductory Statistics (10th Edition)

Ch. 8.1 - The value of a statistic used to estimate a...Ch. 8.1 - What is a confidence-interval estimate of a...Ch. 8.1 - Prob. 3E Ch. 8.1 - Prob. 4E Ch. 8.1 - Prob. 5E Ch. 8.1 - Suppose that you lake 500 simple random samples...Ch. 8.1 - Prob. 7E Ch. 8.1 - A simple random sample is taken from a population...Ch. 8.1 - Refer to Exercise 8.7 and find a point estimate...Ch. 8.1 - Prob. 10E

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Solution Summary: The author explains the 95% upper confidence bound for the population mean amount spent on Christmas gifts in 2013 is 728.408.

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