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

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Basic Statistics) Materials
Use expected collision claim amount to find out the collision insurance premium that would permit the company to break even on collision portion of policy.
Use two-stage sampling, with simple random sampling at each stage, to estimate the mean or total of a population of your choice. In the process of carrying out the survey an
Explain the limitations presented by the study population and sample size used. Support your explanation with examples from the study. Discuss the advantages and disadvantage
(Hardy's Theorem)  be monotonically nondecreasing sequences of numbers. Let us associate with each i = 1,...,n a distinct index ji, and consider  Use an interchange argument
Results were analyzed using one -way ANOVA and included SSTR =7 , 102 and SSE = 10 ,511. Are all 8 tapes equally appealing on average? Determine p value?
The opponents of soccer team A are of two types: either they are a class 1 or a class 2 team. The number of goals team A scores against a class i opponent is a Poisson rando
The quality-control department took a random sample of 50 cans and found that the arithmetic mean weight was 16.05 ounces? Determine the p-value.
A recent article in the Arizona Republic indicated that the mean selling price of the homes in the area is more than $220,000. Can we conclude that the mean selling price in