True or False? When the population variance is unknown and the size of a random sample is 20, then the student’s t used to construct a 90% confidence interval for the population mean is 1.729, by Appendix D.
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True or False? When the population variance is unknown and the
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- If the level of confidence is lowered from 95% to 90 % , but the allowable error and the standard deviation remain the same, what happens to the required sample size?A simple random sample of 5 months of sales data provided the following information: Month: 1 2 3 4 5 Units Sold: 99 100 85 99 92 a. Develop a point estimate of the population mean number of units sold per month. b. Develop a point estimate of the population standard deviationA sample of 27 elements from a normally distributed population is selected. The sample mean is 14 with a sample standard deviation of 5. The 95% confidence interval for u is._____ a. 12.022 to 15.978 b. 9:000 to 19.000 c. 13.791 to 14.209 d. 15.886 to 12.114
- In a sample of 30 people, the average cost of a latte is $3.55. The standard deviation for the sample is $1.46. What is the margin of error for a 99% confidence interval? Group of answer choices $0.73 $0.69 $0.27 $0.66 thanksThe operations manager at a compact fluorescent light bulb (CFL) factory needs to estimate the mean life of a large shipment of CFLs. The manufacturer’s specifications are that the standard deviation is 1,000 hours. A random sample of 64 CFLs indicated at sample mean life of 7,500 hours. Construct a 95% confidence interval estimate for the population mean life of compact fluorescent light bulbs in this shipment. Based on your confidence interval, make inference about the population parameter. Do you think that the manufacturer has a right to state that the compact fluorescent light bulbs have a mean life of 8,000 hours? Please explain. To answer these questions, is it compulsory to assume that the population compact fluorescent light bulb life is normally distributed? Why, why not. Suppose that the standard deviation changes to 800 hours. What are the answers for the first and second question?It is known that the variance of a population equals 20. A random sample of 144 observations is going to be taken from the population. Compute the margin of error corresponding to a 95% level of confidence.
- You want to obtain a sample to estimate a population mean. Based on previous evidence, you believe the population standard deviation is approximately σ=65.4σ=65.4. You would like to be 99% confident that your estimate is within 2.5 of the true population mean. How large of a sample size is required?[Do not round mid-calculation. However, use a critical value rounded to three decimal places — this is important for the system to check answers correctly.]n =A major newspaper (that rhymes with Small Street Journal) reported an average household income for its subscribers is $119,155. Assume this estimate of the mean household income is based on a sample of 80 subscribers, and, based on past studies, the population standard deviation is known to be sigma=$30,000. Construct a 95% confidence interval for the population mean. Group of answer choices $60,356 - $177,954 $118,420 - $119,890 $112,447 - $125,863 $112,581 - $125,729Goofy Marketing Solutions conducted a survey among 16 randomly selected visitors to the newly opened Outlet Shoppes at Atlanta to measure their satisfaction with the shopping experience. The sample satisfaction score is normally distributed around a mean of �¯=67with a sample standard deviation of s=7.509. Determine the 95% confidence interval for the population mean from the sample. The upper limit of the 95% confidence interval is (rounded)....
- By how much the consumer sentiment Index has to change before you can consider the change statistically significant at the 95% confidence level? What would be the reduction in sampling error if you increase the sample size from 500 to 1000?If an interval estimate is said to be constructed at the 90% confidence level, the confidence coefficient would be Group of answer choices 0.1 0.05 0.95 0.9A sample of 81 observations is taken from a normal population with a standard deviation of 6.The sample mean is 41. Determine the 99% confidence interval for the population mean.