13th Edition

ISBN: 9781305881884

Author: Anderson

Publisher: CENGAGE L

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A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

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Textbook Question

Chapter 7.6, Problem 41E

The Food Marketing Institute shows that 17% of households spend more than $100 per week on groceries. Assume the population proportion is p = .17 and a sample of 800 households will be selected from the population.

a. Show the sampling distribution of p ¯ , the sample proportion of households spending more than $100 per week on groceries.
b. What is the probability that the sample proportion will be within ±.02 of the population proportion?
c. Answer part (b) for a sample of 1600 households.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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Chapter 7 Solutions

STATISTICS F/BUSINESS+ECONOMICS-TEXT

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Solution Summary: The author illustrates the sampling distribution of stackrelp, the sample proportion of households spending more than 100 per week on groceries.

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Chapter 7 Solutions