Statistics for Management and Economics (Book Only)
11th Edition
ISBN: 9781337296946
Author: Gerald Keller
Publisher: Cengage Learning
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Question
Chapter 10.2, Problem 17E
a:
To determine
Calculate the population mean with standard deviation 15.
b:
To determine
Calculate the population mean with standard deviation 30.
c:
To determine
Calculate the population mean with standard deviation 60.
d:
To determine
Impact on confidence interval.
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We can make a confidence interval more precise (narrower) by,
a
increasing the sample size.
b
reducing the confidence level.
c
increasing the confidence level.
d
both (a) and (b) are correct.
With 95% confidence, calculate the margin of error to estimate the population mean with a simple random sample of 8 items in a sample standard deviation of 3.5.
Country 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?
Chapter 10 Solutions
Statistics for Management and Economics (Book Only)
Ch. 10.1 - Prob. 1ECh. 10.1 - Prob. 2ECh. 10.1 - Prob. 3ECh. 10.1 - Prob. 4ECh. 10.1 - Prob. 5ECh. 10.1 - Prob. 6ECh. 10.1 - Prob. 7ECh. 10.1 - Prob. 8ECh. 10.2 - Prob. 13ECh. 10.2 - Prob. 14E
Ch. 10.2 - Prob. 15ECh. 10.2 - Prob. 16ECh. 10.2 - Prob. 17ECh. 10.2 - Prob. 18ECh. 10.2 - Prob. 19ECh. 10.2 - Prob. 20ECh. 10.2 - Prob. 21ECh. 10.2 - Prob. 22ECh. 10.2 - Prob. 23ECh. 10.2 - Prob. 24ECh. 10.2 - Prob. 25ECh. 10.2 - Prob. 26ECh. 10.2 - Prob. 27ECh. 10.2 - Prob. 28ECh. 10.2 - Prob. 29ECh. 10.2 - Prob. 30ECh. 10.2 - Prob. 31ECh. 10.2 - Prob. 32ECh. 10.2 - Prob. 33ECh. 10.2 - Prob. 34ECh. 10.2 - Prob. 35ECh. 10.2 - Prob. 36ECh. 10.2 - Prob. 37ECh. 10.2 - Prob. 38ECh. 10.2 - Prob. 39ECh. 10.2 - Prob. 40ECh. 10.2 - Prob. 41ECh. 10.2 - Prob. 42ECh. 10.2 - Prob. 43ECh. 10.2 - Prob. 44ECh. 10.2 - Prob. 45ECh. 10.2 - Prob. 46ECh. 10.3 - Prob. 47ECh. 10.3 - Prob. 48ECh. 10.3 - Prob. 49ECh. 10.3 - Prob. 50ECh. 10.3 - Prob. 51ECh. 10.3 - Prob. 52ECh. 10.3 - Prob. 53ECh. 10.3 - Prob. 54ECh. 10.3 - Prob. 55ECh. 10.3 - Prob. 56ECh. 10.3 - Prob. 57ECh. 10.3 - Prob. 58ECh. 10.3 - Prob. 59ECh. 10.3 - Prob. 60ECh. 10.3 - Prob. 61ECh. 10.3 - Prob. 62E
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