Game Theory

2. In order to determine the average amount spent in November on Amazon.com a random sample of 144 Amazon accounts were selected. The sample mean amount spent in November was $250 with a standard deviation of $25. Assuming that the population standard deviation is unknown, what is a 95% confidence interval for the population mean amount spent on Amazon.com in November?

(21) You took a sample of size 21 from a normal distribution with a known standard deviation, . In order to find a 90% confidence interval for the mean, You need to find.

6. Based on questions 3, 4, and 5 is the mean or median a better estimate for the parameter of interest? Explain your reasoning.

Compute the population mean margin of error for a 90% confidence interval when sigma is 7 and the sample size is 36.

Body weight expressed as a percentage of ideal in an SRS of n = 9 girls selected at random are as follows {114, 100, 104, 94, 114, 105, 103, 105, 96}. Calculate a 95% confidence interval for the population mean µ.

Use the Internet or Strayer Library to research articles on hypothesis test and its application in business. Select one (1) company or organization which utilized hypothesis test

b. Construct a 91.5% confidence interval for the mean time it take for all workers who are employed in downtown Toronto

6. Based on questions 3, 4, and 5 is the mean or median a better estimate for the parameter of interest? Explain your reasoning.

12. _____ For a given population, confidence intervals constructed from larger samples tend to be narrower than those constructed from smaller samples. Which statement below best describes why this is true? (A) The variability of the sample mean is less for larger samples. (B) The z-value for larger samples tends to be more accurate. (C) The population variance is larger for large populations. (D) As the sample size increases, the z-value (or t-value) becomes smaller. A machine dispenses potato chips into bags that are advertised as containing one pound of product. To be on the safe side, the machine is supposed to be calibrated to dispense 16.07 ounces per bag, and from long time observation, the distribution of the fill-weights is known to be approximately normal and the process is known to have a standard deviation of 0.15 ounces.

The null hypothesis is rejected since the p-value is below the significance level of 0.05.

Population A and Population B both have a mean height of 70.0 inches with an SD of 6.0. A random sample of 30 people is picked from population A, and random sample of 50 people is selected from Population B. Which sample mean will probably yield a more accurate estimate of its population mean? Why? Despite, both Population A and Population having a mean height of 70.0 inches with an SD of 6.0, Population B will

2. For the following set of scores, fill in the cells. The mean is 74.13 and the standard deviation is 9.98.

The customers in this case study have complained that the bottling company provides less than the advertised sixteen ounces of product. They need to determine if there is enough evidence to conclude the soda bottles do not contain sixteen ounces. The sample size of sodas is 30 and has a mean of 14.9. The standard deviation is found to be 0.55. With these calculations and a confidence level of 95%, the confidence interval would be 0.2. There is a 95% certainty that the true population mean falls within the range of 14.7 to 15.1.

Fry Brothers heating and Air Conditioning, Inc. employs Larry Clark and George Murnen to make service calls to repair furnaces and air conditioning units in homes. Tom Fry, the owner, would like to know whether there is a difference in the mean number of service calls they make per day. Assume the population standard deviation for Larry Clark is 1.05 calls per day and 1.23 calls per day for George Murnen. A random sample of 40 days last year showed that Larry Clark made an average of

Quality Associates, Inc., a consulting firm advises its clients about sampling and statistical procedures that can be used to control their manufacturing processes. In one particular application a client gave Quality Associates a sample of 800 observations taken during a time in which the client’s process was operating satisfactorily. The sample standard deviation of this data was 0.21; hence with so much data, the population standard deviation was assumed to be 0.21. Quality Associates then suggested that random samples of size 30 be taken periodically to monitor the process on an ongoing basis. By analyzing the new samples, the client could quickly learn whether the process was operating satisfactorily. When the process was not operating satisfactorily, corrective action could be taken to eliminate the problem. The design specification indicated the mean for the process should be 12. The hypothesis test suggested by Quality Associates follows.