5.An average fee for an Information Technology Degree program at private universitiesin Malaysia is RM4081 for an academic year 2022-2023. Suppose that this mean isbased on a random sample of 100 universities and a sample standard deviation ofRM845.a) Make a 95% confidence interval for the corresponding population mean.b) Provide the interpretation for your answer obtained in 6(a).c) Find the margin errord) How can we reduce the margin error?

Given, Sample mean(x¯)=4081Sample size(n)=100Standard deviation(s)=845Significance Level(α)=0.05 We…

Answered: 5. An average fee for an Information…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Suppose that for a random sample of 200 firms that revalued their fixed assets, the mean ratio of debt to tangible assets was 0.517 and the sample standard deviation was 0.148. For an independent random sample of 400 firms that did not revalue their fixed assets, the mean ratio of debt to tangible assets was 0.489 and the sample standard deviation was 0.158. Find a 99% confidence interval for the difference between the two population means.
8. Suppose a teacher looks at a random sample of 42 final exam completion times and finds a mean timeof 111 minutes with a sample standard deviation of 44 minutes. Which value best approximates themargin of error for a 95% confidence interval?
Suppose that a random sample of sixteen recently sold houses in a certain city has a mean sales price of $280,000, with a standard deviation of $14,000. Under the assumption that house prices are normally distributed, find a 90% confidence interval for the mean sales price of all houses in this community. Then find the lower limit and upper limit of the 90% confidence interval.
5.) The operations manager of a large production plant would like to estimate the mean amount of time a worker takes to assemble a new electronic component. Assume that the standard deviation of this assembly time is 3.6 minutes. a. After observing 120 workers assembling similar devices, the manager noticed that their average time was 16.2 minutes. Construct a 90% confidence interval for the mean assembly time. b. How many workers should be involved in this study in order to have the mean assembly time estimated up to + 15 seconds with 90% confidence?
Suppose a sample of 200 local vendors is selected as part of a survey conducted by the Ministry of Trade and it is found that 145 of the local vendors make an average income in excess of N$ 7 600 per month. a) Suppose that a 98% confidence interval estimate of the proportion of local vendors who make an average income more than N$ 7 600 per month is required. How large a sample should be taken if the desired margin of error is 8%? b) Suppose it has been established from past studies that not more than 65% of local vendors make an average income in excess of N$ 7 600 per month. Use the critical value approach and conduct a hypothesis test at a 5% level of significance to determine whether the proportion of local vendors who make an average income in excess of N$ 7 600 per month differs from the historical level.
An insurance company hypothesizes that the insurance claims requested by its customers come from a distribution with a mean of 8000 TL with a standard deviation of 1000 TL. What conclusion can we draw if the average of 64 randomly chosen claims turns out to be 8500 TL? A ) As 8500 is outside the 95% acceptance interval, we reject the hypothesis. B ) As 8000 is inside a 95% confidence interval, we cannot reject the hypothesis. C ) As 8500 is outside a 95% confidence interval, we reject the hypothesis. D ) None of the above. E ) As 8000 is inside the 95% acceptance interval, we cannot reject the hypothesis.
Suppose a retailer claims that the average wait time for a customer on its support line is 185 seconds. A random sample of 53 customers had an average wait time of 177 seconds. Assume the population standard deviation for wait time is 53 seconds. Using a 95% confidence interval, does this sample support the retailers claim? A) Yes, because the retailers claim is beteeen the lower limit of __ seconds and the upper limit of __ seconds for the mean wait time. B) No, because the retailers claim is not between the lower limit of __ seconds and the upper limit of __ seconds for the mean wait time. Please help!
Calculate the minimum sample size required in order to make a 95% confidence interval for a population mean when σ = 4.5 and the margin of error is to be no more than 1.2.
Suppose that a random sample of 11 scores from a population of test scores is to be used to estimate the population mean and standard deviation. If a 95% confidence interval for the mean is constructed , it contains values that are within _____ standard deviations of its mean.
Suppose that the population standard deviation of student scores is 20. What will be the sample size so that the resulting 90% confidence interval for the population mean score has a margin of error no larger than 4?
Suppose that a random sample of ten recently sold houses in a certain city has a mean sales price of $285,000 with a standard deviation of $5000 Under the assumption that house prices are normally distributed, find a 95% confidence interval for the mean sales price of all houses in this community. Then find the lower limit and upper limit of the 95% confidence interval. Lower limit: Upper limit:
Suppose that the population standard deviation of students score is 20. what is the sample size so that the resulting 95% confidence interval for the population mean score has a margin of error no larger than 5.

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