Statistics for Management and Economics (Book Only)
11th Edition
ISBN: 9781337296946
Author: Gerald Keller
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 10.2, Problem 40E
To determine
Calculate the population mean.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
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.
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.
Arbitron Media Research Inc. conducted a study of the iPod listening habits of men and women. One facet of the study involved the mean listening time. It was discovered that the mean listening time for a sample of 9 men was 32 minutes per day. The standard deviation was 21 minutes per day. The mean listening time for a sample of 9 women was also 32 minutes, but the standard deviation of the sample was 8 minutes. Use a two-tailed test and at 0.02 significance level, can we conclude that there is a difference in the variation in the listening times for men and women? (Round your answer to 3 decimal places.)
The test statistic is .Decision:
H0:σ21=σ22.
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
Knowledge Booster
Similar questions
- Pharmaceutical companies promote their prescription drugs using television advertising. In a survey of 90 randomly sampled television viewers, 9 indicated that they asked their physician about using a prescription drug they saw advertised on TV. Develop a 90% confidence interval for the proportion of viewers who discussed a drug seen on TV with their physician. (Round your answers to 3 decimal places.) Is it reasonable to conclude that 30% of the viewers discuss an advertised drug with their physician?arrow_forwardIn 2015, the average duration of long-distance telephone calls from a certain town was 3.9 minutes. A telephone company wants to perform a test to determine whether this average duration of long- distance calls has changed. Fifty calls, originating from the town, was randomly selected and the following summary minutes. ∑ ? = 205 ∑(? − ?̅)2 = 56.43 Calculate the sample mean, ?̅. Calculate the sample standard deviation.arrow_forwardA psychologist wants to estimate the variance of employee test scores. A random sample of 18 scores had a sample standard deviation of 10.4. Find a 90% confidence interval for the population variance. What assumption if any have you made in calculating this interval estimate?arrow_forward
- 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 =arrow_forwardThe null and alternate hypotheses are: H0 : μ1 = μ2 H1 : μ1 ≠ μ2 A random sample of 8 observations from one population revealed a sample mean of 23 and a sample standard deviation of 4.6. A random sample of 8 observations from another population revealed a sample mean of 27 and a sample standard deviation of 4.6. The population standard deviations are unknown but assumed to be equal. At the 0.01 significance level, is there a difference between the population means? a. State the decision rule. b. Compute the pooled estimate of the population variance. c. Compute the test statistic.arrow_forwardBob Nale is the owner of Nale’s Quick Fill. Bob would like to estimate the mean number of gallons of gasoline sold to his customers. Assume the number of gallons sold follows the normal distribution with a population standard deviation of 1.80 gallons. From his records, he selects a random sample of 80 sales and finds the mean number of gallons sold is 6.90. What is the point estimate of the population mean? (Round your answer to 2 decimal places.) Develop a 95% confidence interval for the population mean. (Use z Distribution Table.) (Round your answers to 2 decimal places.)arrow_forward
- 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 0.9arrow_forward(Ch8) True or False? With a given sample, when we lower the confidence level, it will reduce the width of a confidence interval of the population proportion.arrow_forwardIs it true or false that the least absolute deviations (LAD) estimator minimizes the sum of the absolute value of the population errors.arrow_forward
- 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?arrow_forwardThe null and alternate hypotheses are: H0 : μ1 = μ2H1 : μ1 ≠ μ2 A random sample of 11 observations from one population revealed a sample mean of 25 and a sample standard deviation of 3.5. A random sample of 4 observations from another population revealed a sample mean of 29 and a sample standard deviation of 4.5. At the 0.01 significance level, is there a difference between the population means? State the decision rule. (Negative values should be indicated by a minus sign. Round your answers to 3 decimal places.) Compute the pooled estimate of the population variance. (Round your answer to 3 decimal places.) Compute the test statistic. (Negative value should be indicated by a minus sign. Round your answer to 3 decimal places.) State your decision about the null hypothesis. multiple choice 1 Do not reject H0. Reject H0. The p-value is multiple choice 2 between 0.1 and 0.05 less than 0.001 between…arrow_forwardA hypothesis will be used to test that a population mean equals 9 against the alternative that the population mean is less than 9 with known variance . What is the critical value for the test statistic for the significance level of 0.025? Round your answer to two decimal places (e.g. 98.76).arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education