Suppose that a random sample of eleven recently sold houses in a certain city has a mean sales price of $275,000, with a standarddevlation of $5000. Under the assumption that house prices are normally distributed, find a 90% confidence interval for the meansales price of all houses in this community. Then find the lower limit and upper limit of the 90% confidence interval.Carry your intermediate computations to at least three decimal places, Round your answers to the nearest whole number. (Ifnecessary, consult a list of formulas.)Lower limit: $|Upper limit: $Check© 2022

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Answered: Suppose that a random sample of eleven…

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 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!
A 90 percent confidence interval is to be created to estimate the proportion of television viewers in a certain areawho favor moving the broadcast of the late weeknight news to an hour earlier than it is currently. Initially, theconfidence interval will be created using a simple random sample of 9,000 viewers in the area. Assuming that thesample proportion does not change, what would be the relationship between the width of the original confidenceinterval and the width of a second 90 percent confidence interval that is created based on a sample of only 1,000viewers in the area?(A) The second confidence interval would be 9 times as wide as the original confidence interval.(B) The second confidence interval would be 3 times as wide as the original confidence interval.(C) The width of the second confidence interval would be equal to the width of the original confidence interval.(D) The second confidence interval would be 1/3 as wide as the original confidence interval.(E) The second…
A sociologist is interested in surveying workers in computer-related jobs to estimate the proportion of such workers who have changed jobs within the past year. In the absence of preliminary data, how large a sample must be taken to ensure that a 95% confidence interval will specify the proportion to within ±0.02? Round up the answer to the nearest integer.
A sociologist is interested in surveying workers in computer-related jobs to estimate the proportion of such workers who have changed jobs within the past year. a) In the absence of preliminary data, how large a sample must be taken to ensure that a 95% confidence interval will specify the proportion to within ±0.05? b) In a sample of 100 workers, 20 of them had changed jobs within the past year. Find a 95% confidence interval for the proportion of workers who have changed jobs within the past year. c) Based on the data in part (b), estimate the sample size needed so that the 95% confidence interval will specify the proportion to within ±0.05.
in a study of government financial aid for college students, it becomes necessary to estimate the percentage of full-timecollege students who earn a bachelor's degree in four years or less. Find the sample size needed to estimate that percentage. Use a 0.02 margin of error and use a confidence level of 90%. a. Assume that nothing is known about the percentage to be estimated. (Round up to the nearest integer.)
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.
The Okeechobee County Economic Development Board needs to estimate the proportion of all county residents who have earned at least a bachelor's degree. A random sample conducted by the Okeechobee County Economic Development Board found that 10.5% of all county residents held at least a bachelor's degree.Find three different confidence intervals - one with sample size 180, one with sample size 451, and one with sample size 621. Assume that 10.5% of the county residents in each sample have earned at least a bachelor's degree. Notice how the sample size affects the margin of error and the width of the interval.Report confidence interval solutions using interval notation. Report all solutions in percent form, rounded to two decimal places, if necessary. When n=180n=180, the margin of error for a 95% confidence interval is given by .When n=180n=180, a 95% confidence interval is given by . When n=451n=451, the margin of error for a 95% confidence interval is given by .When n=451n=451, a…
Suppose that in a random sample of 600 employed Americans, there are 55 individuals who say that they would fire their boss if they could. Calculate a 90% confidence interval for the population proportion who would fire their boss if they could. (Round the answers to three decimal places.) ______to______
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.
in a study of government financial aid for college students, it becomes necessary to estimate the percentage of full-timecollege students who earn a bachelor's degree in four years or less. Find the sample size needed to estimate that percentage. Use a 0.02 margin of error and use a confidence level of 90%. Assume prior studies have shown that about 60% of full-time students earn bachelor's degrees in four years or less. (Round up to the nearest integer.)
An investigator computes a 95% confidence interval for a population mean on the basis of a sample of size 70. If she wishes to compute a 95% confidence interval that is half as wide, how large a sample does she need?
4. The EPA wants to test a randomly selected sample of n water specimens and estimate the mean daily rate of pollution produced by a mining operation. If the EPA wants a 95% confidence interval with a bound of error of 2 milligram per liter (mg/L), how many water specimens are required in the sample? Assume prior knowledge indicates that pollution readings in water samples taken during a day have been approximately normally distributed with a standard deviation of 5.3 (mg/L). n=

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