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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Textbook Question

Chapter 8.4, Problem 14SE

A random sample of 100 items is drawn from a population whose standard deviation is known to be σ = 50. The sample mean is x ¯ = 850.

a. Construct an interval estimate for μ with 95 percent confidence.
b. Repeat part a assuming that σ = 100.
c. Repeat part a assuming that σ = 200.
d. Describe how the confidence interval changes as σ increases.

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Chapter 8.4, Problem 13SE

Chapter 8.4, Problem 15SE

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Chapter 8 Solutions

Applied Statistics in Business and Economics

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