+1-415-670-9189
info@expertsmind.com
Assuming that the amount spent follows a normal distribution
Course:- Basic Statistics
Reference No.:- EM1319194


Assignment Help
Assignment Help >> Basic Statistics

The 95% confidence Interval for one population mean.

1. A study at a college in the west coast reveals that, historically, 45% of their students are minority students.  If random samples of size 75 are selected, 80% of the samples will have less than ______% of minority students.

2. A major department store chain is interested in estimating the average amount its credit card customers spent on their first visit to the chain's new store in the mall. Fifteen credit card accounts were randomly sampled and analyzed with the following results= $50.50 and s2 = 400. Construct a 95% confidence interval for the average amount its credit card customers spent on their first visit to the chain's new store in the mall assuming that the amount spent follows a normal distribution.

1.       $50.50 ± $9.09

2.       $50.50 ± $10.12

3.       $50.50 ± $11.00

4.       $50.50 ± $11.08


Ask Question & Get Answers from Experts
Browse some more (Basic Statistics) Materials
A test on zoology is to be given next week. Suppose 75 percent of the students study for the test and 25 percent do not. If a student studies for the exam, the probability
Formulate the hypotheses that can be used to determine whether the mean of all account balances is significantly different from $1,150
Construct a 99 percent confidence interval for the mean commission earned by local Tupperware dealers. You may assume the commissions are normally distributed.
Suppose in a population of 100,000, the probability that an individual will die from bird flu in a given winter is .00009. If the data fits a Poisson distribution, then the
Sample standard deviation s2 = 7.6 thousand dollars. Does this indicate that in St. Louis, computer stores tend to have higher mean profits per employee? Use α = 0.01 and inte
The midpoint for each class (enter in table above): Calculate the estimated arithmetic mean of the sample Calculate the estimated arithmetic median of the sample
In chi-square goodness-of-fit test when there is close agreement between observed frequency and expected frequency, chi-square test value will be small.
The useful life of an electrical component is exponentially distributed with a mean of 2500 hours. a. What is the probability the circuit will last more than 3,000 hours.