Answered: As part of a survey, a marketing…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Concept explainers

Question

part of a survey, a marketing representative asks a random sample of

business owners how much they would be willing to pay for a website for their company. She finds that the sample standard deviation is

$3600.

Assume the sample is taken from a normally distributed population. Construct

95%

confidence intervals for (a) the population variance

σ2

and (b) the population standard deviation

σ.

Interpret the results.

(a) The confidence interval for the population variance is

(81009378100937,24011528.24011528.).

(Round to the nearest integer as needed.)

Interpret the results. Select the correct choice below and fill in the answer box(es) to complete your choice.

(Round to the nearest integer as needed.)

With

confidence, you can say that the population variance is between

nothing

and

nothing.

With

95%

confidence, you can say that the population variance is between

nothing

and

nothing.

With

95%

confidence, you can say that the population variance is

less

than

nothing.

With

confidence, you can say that the population variance is

greater

than

nothing.

As part of a survey, a marketing representative asks a random sample of 28 business owners how much they would be willing to pay for a website for
their company. She finds that the sample standard deviation is $3600. Assume the sample is taken from a normally distributed population. Construct
95% confidence intervals for (a) the population variance o2 and (b) the population standard deviation o. Interpret the results.
(a) The confidence interval for the population variance is ( 8100937, 24011528. ).
(Round to the nearest integer as needed.)
Interpret the results. Select the correct choice below and fill in the answer box(es) to complete your choice.
(Round to the nearest integer as needed.)
O A. With 5% confidence, you can say that the population variance is between
O and .
O B. With 95% confidence, you can say that the population variance is between
| and .
OC. With 95% confidence, you can say that the population variance is less
O D. With 5% confidence, you can say that the population variance is greater
than
than

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.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Point Estimation, Limit Theorems, Approximations, and Bounds$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc