Rock band The Rolling Stones have playedscores of concerts in the last twenty years. For 30randomly selected Rolling Stones concerts, the meangross earnings is 2.9 million dollars.Part a) Assuming a population standard deviation grossearnings of 0.55 million dollars, obtain a 99%confidence interval for the mean gross earnings of allRolling Stones concerts (in millions). Please carry atleast three decimal places in intermediate steps. Giveyour answer to the nearest 3 decimal places.Confidence interval: ()."Part b)Which of the following is the correct interpretation foryour answer in part (a)?A. There is a 99% chance that the mean grossearnings of all Rolling Stones concerts lies in theintervalB. We can be 99% confident that the mean grossearnings for this sample of 30 Rolling Stonesconcerts lies in the intervalC. If we repeat the study many times, 99% of thecalculated confidence intervals will contain the meangross earning of all Rolling Stones concerts.D. None of the above

Answered: Image /qna-images/answer/33ea31af-fce1-435d-b7a8-e2b629bd5ce4.jpg

Answered: Rock band The Rolling Stones have…

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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According to data from the Organization for Economic Cooperation and Development, the average U.S. worker takes 17 days of vacation each year (The Wall Street Journal, June 20, 2007). Assume that these data were based on a sample of 35 workers and that the sample standard deviation is 20 days. Construct the 95% confidence interval for the population mean. I need a 95% interval
The Human Relations Department of Electronics Inc. would like to include a dental plan as part of the benefits package. The question is: How much does a typical employee and his or her family spend per year on dental expenses? A sample of 45 employees reveals the mean amount spent last year was $1,820, with a standard deviation of $660. Construct a 95% confidence interval for the population mean. The information from part (a) was given to the president of Electronics Inc. He indicated he could afford $1,700 dental expenses per employee. Is it possible that the population mean could be $1,700? Justify your answer.
A report published by the BZW Luxury Association shows that each American household spent on average$694 on jewelry and watch in 2018. Suppose a sample of 64 households were surveyed while they wereshopping at Macy's, which resulted in a sample mean of $622 and a sample standard deviation of $125. How does the margin of error for a 99% condence interval compare to the margin of error for a 95% condence interval? Based on your the 95% confidence interval result, does it appear that the population mean amount spent by families shopping at Macy's is different from the mean reported? Explain.
2. A recent survey conducted by the National Telecommunications Commission (NTC) aims to determine the average internet usage using smartphones (in minutes) per week. The researcher who surveyed 28 randomly selected people and found that the average time of internet usage using their smartphones per week is 140 minutes with a standard deviation of 30 minutes. Estimate a 95% confidence interval of the average time per minute.
The Aloha Taxi Cab Company of Honolulu, Hawaii, wants to estimate the mean life of tires on its cabs. A random sample of 15 tires from the cabs are found to have a life of 18,280 miles with sample standard deviation of 1,310 miles. Find a 90% confidence interval for the mean life of all such tires on Aloha Taxi Cabs.
A tire producer wants to test whether the mean diameter of the tires produced on a given day equals 36 inches. The firm chooses a random sample of 48 tires, and finds that the sample mean diameter is 36.4 inches and the sample standard deviation is 0.8 inches. Create a 90% confidence interval.
It is no surprise that the US has the highest calorie intake of any country in the world. Suppose a random sample of 60 residents of the US had an average daily calorie intake of 3770 with a standard deviation of 480. a. What is the point estimate for the average calorie intake of Americans? b. Find the margin of error for a 99% confidence interval for average calorie intake. c. Construct and interpret the 99% confidence interval for the mean calorie intake of American adults.
If a sample of 25 fish from my pond has mean weight 157 grams with a standard deviation of 8.3 grams and we know the population standard deviation for the fish in my pond is actually 9.4 grams, then WHAT IS the MARGIN OF ERROR in the 99 percent confidence interval for true mean weight of fish in my pond? Group of answer choices
A college alumni Organization sent a survey to all recent graduates to ask their annual income. 20% of the alumni responded, and their mean annual income was $40,000 with a standard deviation of $10,000. Explain why these data should not be used to construct a confidence interval for the mean annual income of all recent graduates.
In the average zip code, what share of residents have received their first dose? What is the standard deviation in first-dose recipiency rate across the 177 zipcodes? What is the standard error associated with the zip-level average calculated inquestion 4? I would like you to construct a 95% confidence interval for the sample mean.Because the data are numerical, you should use a t-distribution. What is theappropriate degrees of freedom? The 95% confidence interval for the sample mean runs from _____ to 87.56%.

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