BuyFindarrow_forward

Statistics for Business & Economic...

12th Edition
David R. Anderson + 4 others
Publisher: South-Western College Pub
ISBN: 9781285846323

Solutions

Chapter
Section
BuyFindarrow_forward

Statistics for Business & Economic...

12th Edition
David R. Anderson + 4 others
Publisher: South-Western College Pub
ISBN: 9781285846323
Chapter 8.1, Problem 1E
Textbook Problem
134 views

A simple random sample of 40 items resulted in a sample mean of 25. The population standard deviation is σ = 5.

  1. a. What is the standard error of the mean, σx?
  2. b. At 95% confidence, what is the margin of error?

a.

To determine

Find the standard error of the mean.

Explanation of Solution

Calculation:

The given information is that the samples of 40 items are selected randomly with mean 25 and population standard deviation 5.

The formula for standard error of the mean is,

σx¯=σn

The value of the standard error is,

σ

b.

To determine

Find the margin of error for 95% confidence interval.

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Chapter 8 Solutions

Statistics for Business & Economics, Revised (MindTap Course List)
Show all chapter solutions
add
Ch. 8.2 - For a t distribution with 16 degrees of freedom,...Ch. 8.2 - Find the t value(s) for each of the following...Ch. 8.2 - The following sample data are from a normal...Ch. 8.2 - A simple random sample with n = 54 provided a...Ch. 8.2 - Sales personnel for Skillings Distributors submit...Ch. 8.2 - A sample containing years to maturity and yield...Ch. 8.2 - The International Air Transport Association...Ch. 8.2 - Older people often have a hard time finding work....Ch. 8.2 - The average cost per night of a hotel room in New...Ch. 8.2 - Is your favorite TV program often interrupted by...Ch. 8.2 - Consumption of alcoholic beverages by young women...Ch. 8.2 - Disneys Hannah Montana: The Movie opened on Easter...Ch. 8.3 - How large a sample should be selected to provide a...Ch. 8.3 - The range for a set of data is estimated to be 36....Ch. 8.3 - Refer to the Scheer Industries example in Section...Ch. 8.3 - The U.S. Energy Information Administration (US...Ch. 8.3 - Annual starting salaries for college graduates...Ch. 8.3 - An online survey by ShareBuilder, a retirement...Ch. 8.3 - The travel-to-work time for residents of the 15...Ch. 8.3 - There has been a trend toward less driving in the...Ch. 8.4 - A simple random sample of 400 individuals provides...Ch. 8.4 - A simple random sample of 800 elements generates a...Ch. 8.4 - In a survey, the planning value for the population...Ch. 8.4 - At 95% confidence, how large a sample should be...Ch. 8.4 - The Consumer Reports National Research Center...Ch. 8.4 - According to statistics reported on CNBC, a...Ch. 8.4 - Towers Perrin, a New York human resources...Ch. 8.4 - According to Thomson Financial, through January...Ch. 8.4 - The percentage of people not covered by health...Ch. 8.4 - For many years businesses have struggled with the...Ch. 8.4 - Fewer young people are driving. In 1983, 87% of...Ch. 8.4 - A poll for the presidential campaign sampled 491...Ch. 8.4 - A Phoenix Wealth Management/Harris Interactive...Ch. 8 - A sample survey of 54 discount brokers showed that...Ch. 8 - A survey conducted by the American Automobile...Ch. 8 - The 92 million Americans of age 50 and over...Ch. 8 - Many stock market observers say that when the P/E...Ch. 8 - US Airways conducted a number of studies that...Ch. 8 - A recent article reported that there are...Ch. 8 - Mileage tests are conducted for a particular model...Ch. 8 - In developing patient appointment schedules, a...Ch. 8 - Annual salary plus bonus data for chief executive...Ch. 8 - The National Center for Education Statistics...Ch. 8 - A USA Today/CNN/Gallup survey of 369 working...Ch. 8 - Which would be hardest for you to give up: Your...Ch. 8 - Cincinnati/Northern Kentucky International Airport...Ch. 8 - The 2003 Statistical Abstract of the United States...Ch. 8 - A well-known bank credit card firm wishes to...Ch. 8 - Workers in several industries were surveyed to...Ch. 8 - Although airline schedules and cost are important...Ch. 8 - Young Professional Magazine Young Professional...Ch. 8 - Gulf Real Estate Properties Gulf Real Estate...Ch. 8 - Metropolitan Research, Inc. Metropolitan Research,...

Additional Math Textbook Solutions

Find more solutions based on key concepts
Show solutions add
Why is productivity important?

Principles of Microeconomics (MindTap Course List)

How are inflation and unemployment related in the short run?

Principles of Macroeconomics (MindTap Course List)

What is the difference between condusions and recommendations in a report?

Essentials of Business Communication (MindTap Course List)

What is computer crime?

Pkg Acc Infor Systems MS VISIO CD

INTEREST RATE DETERMINATION Maria Juarez is a professional tennis player, and your firm manages her money. She ...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Find the mean, median, and mode for the following scores; 8, 7, 5, 7, 0, 10, 2, 4, 11, 7, 8, 7

Essentials of Statistics for The Behavioral Sciences (MindTap Course List)

In Problems 1-4, find the differential of each function. 3.

Mathematical Applications for the Management, Life, and Social Sciences

True or False: is a geometric series.

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

Find f(a). f(x)=2t+1t+3

Calculus (MindTap Course List)

Does the point P (1, 54) lie on the line 6x 8y 16 = 0? Justify your answer.

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

Finding an Indefinite Integral In Exercises 35-56, find the indefinite integral. esinxcosxdx

Calculus: Early Transcendental Functions (MindTap Course List)

Using for |x| < 1 and differentiation, find a power series for .

Study Guide for Stewart's Multivariable Calculus, 8th

Drug Concentration When a drug is administered orally, it takes some time before the blood concentration reache...

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)