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Insurance is an important part of family spending. Average car insurance per car is of interest to investigate. A random sample of 25 families are surveyed and we obtain the average car insurance premium is $780 and S.d. is $120 per year. Assume the car insurance premium is normally distributed.
(a) Find a 99% confidence interval for the average car insurance premium and interpret your result.
(b) What is the margin of error when using $780 to estimate the population average car insurance premium with 99% confidence? [Hint: (U-L)/2 ]
Find the unemployment rate for people with each level of education. How does the unemployment rate change with education? Explain carefully why your results show that level of education and being employed are not independent.
Tourism is one consideration for CoffeeTime's future, A survey of 1,233 visitors to mumbai last year revealed that 110 visited a small cafe during their visit.
Use methods of undetermined coefficients to find one solution of:
Give 0.95 probability bounds on the value of the sample mean that would be obtained. Also give 0.90 probability bounds on the value of the sample mean.
the probability that a call-centre consultant receives 3 calls during any given hour is 0.1404 and the probability
Using the 0.10 level of significance, is there evidence that the mean shopping time at the local supermarket is different from the claimed value of 22 minutes?
This sample for the proportion of the population that would favor a recount. What is the Point Estimate for the proportion of the population that would favor a recount?
describe the importance of tchebysheffs theorem to the ability to find bounds of
A financial adviser is interested in predicting bond yield based on bond terms, i.e., one year, two years, etc. What is the dependent variable?
Alcohol appears to be involved in a variety of birth defects, including low birth weight and retarded growth. A researcher would like to investigate the effect of prenatal alcohol on birth weight.
For the other 25 percent of the population, the drug has no effect on colds. If an individual tries the drug for a year and has 2 colds in that time, what is the probability that the drug is beneficial to that individual?
If a worker is known to strongly agree with the statementMy current job brings out the most creative ideas" what is the probability that the worker is engaged?
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