When developing an interval estimate for the difference between two sample means, with sample sizes of ng and n2. n1 must be larger than n2 O ni must be equal to n2 O ni must be smaller than n2 O ni and n2 can be of different sizes
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A: In the mentioned question we have to tell whether the elasticity is elastic or inelastic.
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- Supermarket shoppers were observed and questioned immediately after putting an item in their cart. Of a random sample of 510 choosing a product at the regular price, 320 claimed to check the price before putting the item in their cart. Of an independent random sample of 332 choosing a product at a special price, 200 made this claim. Find a 90% confidence interval for the difference between the two population proportions.a news paper ad for a manager trainee position contained the statement "our manager trainee have a first year earnings average of $30000 to $40000.Do you think that the ad is describing a confidence intervalCountry Financial, a financial services company, uses surveys of adults age 18 and older to determine if personal financial fitness is changing over time (USA Today, April 4, 2012). In February 2012, a sample of 1000 adults showed 410 indicating that their financial security was more than fair. In February 2010, a sample of 900 adults showed 315 indicating that their financial security was more than fair. State the hypotheses that can be used to test for a significant difference between the population proportions for the two years. What is the sample proportion indicating that their financial security was more than fair in 2012? In 2010? Conduct the hypothesis test and compute the p-value. At a .05 level of significance, what is your conclusion? What is the 95% confidence interval estimate of the difference between the two population proportions?
- The National Association of Colleges (NAC) reported in 2003 that the mean starting salary for collegegraduates majoring in management information systems was $40,915 and for psychology major was$27,454. Suppose the NAC data are based on surveys of size 144 for each major, with a standarddeviation of $10,000 for the management information systems majors and $7000 for the psychologymajors. Construct and interpret a 95% confidence interval for the difference between two means.In studying his campaign plans, Mr. Singleton wishes to estimate the difference between men's and women's views regarding his appeal as a candidate. He asks his campaign manager to take two random independent samples and find the 80%80% confidence interval for the difference. A random sample of 508508 male voters and 605605 female voters was taken. 108108 men and 193193 women favored Mr. Singleton as a candidate. Find this confidence interval. Step 1 of 4 : Find the values of the two sample proportions, pˆ1�^1 and pˆ2�^2. Round your answers to three decimal places.The Ford Motor Company wishes to estimate the mean dollar amount of damage done to a Ford Explorer as a result of a 10 mph crash into the rear bumper of a parked car. The sample results are as follows.Sample Size = 36Sample Mean = $638 Sample Standard Deviation = $115 a. Construct a 95% confidence interval for the average dollar amount of damage.b. Interpret this interval.c. How large a sample size will need to be selected if we wish to have a 95% confidence interval for the average dollar amount of damage with a margin for error of $10?
- Sixteen smokers whose ages were between 50 and 65 years were randomly selected. Blood samples were taken from them. Their cholesterol levels were determined and are presented below. 181 287 240 256 257 179 209 296 211 231 171 248 189 212 189 187 Compute the following: Sample mean Sample variance Sample standard deviationIf MLR 1-4 hold, then OLS estimators are correct are unbiased and inconsistent equal to the population parameter unbiased and consistent(i) A random sample of 175 registered voters revealed that 54% of them voted in the last election. Construct a 95% confidence interval to estimate the true proportion of voter turnout. (ii) A pilot sample of 50 voters found that 30 of them voted in the last election. How many more voters must be sampled to construct a 95% interval with a margin of error equal to 0.04?
- 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 0.9In studying his campaign plans, Mr. Singleton wishes to estimate the difference between men's and women's views regarding his appeal as a candidate. He asks his campaign manager to take two random independent samples and find the 80%80% confidence interval for the difference. A random sample of 508508 male voters and 605605 female voters was taken. 108108 men and 193193 women favored Mr. Singleton as a candidate. Find this confidence interval. Step 2 of 4 : Find the critical value that should be used in constructing the confidence interval.Please do STEP 5 only. STEPS IN THE SAMPLING PROCESS: Define the population from which the sample is to be drawn. Specify the population frame from which the sample will be taken. Choose the sampling methods on selecting samples. Determine the sample size requirement for the study Select the actual samples. Bases on above steps, assuming that a study on risk management practices is to be conducted among 4,488 entrepreneurs wherein 2,244 are college graduates, 1,346 are high school graduates and the remaining 898 are elementary graduates.Furthermore 1,795 of them are into food business, 1,571 are into merchandising or trading business and the others 1,122 are into services business. REQUIRED: Apply the steps in the Sampling plan in order to select the actual samples and make your own assumptions: Each step is identified and explained properly.