Define what is the mean of the population

Assignment Help Macroeconomics
Reference no: EM13221837

Marty Rowatti recently assumed the position of director of the YMCA of South Jersey. He would like some current data on how long current members of the YMCA have been members. To investigate, suppose he selects a random sample of 40 current members. The mean length of membership of those included in the sample is 8.32 years and the standard deviation is 3.07 years.

a. What is the mean of the population?

b. Develop a 90 percent confidence interval for the population mean. The previous director, in the summary report she prepared as she retired, indicated the mean length of membership was now "almost 10 years." Does the sample information substantiate this claim?

Reference no: EM13221837

Questions Cloud

Explain the following accounting assumptions and principles : Explain the following accounting assumptions and principles briefly
Determine the cost of supplies in 2013 : Determine the cost of supplies in 2013 and journalize purchase and use of supplies transactions on December 31, 2013.
Explain how much heat is required to convert of ethanol : Ethanol melts at -114 celcius and boils at 78 celcius . The enthalpy of fusion of ethanol is 5.02 KJ/mol , and its enthalpy of vaporization is 38.56 KJ/mol.
An insurance company is concerned that garage : How can the company do this and obtain independent samples? Explain in detail
Define what is the mean of the population : Develop a 90 percent confidence interval for the population mean. The previous director, in the summary report she prepared as she retired, indicated the mean length of membership was now "almost 10 years." Does the sample information substantiate..
How many prisoners does the county plan to process per year : If its holding area at this new location has design and effective capacities of 10,000 and 7,500 prisoners processed annually, respectively, and it plans to be 80% efficient in its use of this space, how many prisoners does the county plan to proc..
Construct percent confidence interval for population mean : A recent survey of 50 executives who were laid off from their previous position revealed it took a mean of 26 weeks for them to find another position. The standard deviation of the sample was 6.2 weeks. Construct a 95 percent confidence interval f..
Define the molecular weight of the unknown nonelectrolyte : Calculate the molecular weight of the unknown nonelectrolyte. The Kb for benzene = 2.53°C/m. The boiling point of pure benzene is 80.1°C.
Estimate the amount of growth : In trying to estimate the amount of growth that took place in the trees recently planted by the county parks commission

Reviews

Write a Review

Macroeconomics Questions & Answers

  What is the effect of a price increase on total revenue

What is demand elasticity in the $35 - $50 price range? Is demand elastic, inelastic, or of unitary elasticity Calculate the value and show all of your work. Be sure to use the midpoint equation to determine elasticity. Assume demand elasticity ..

  Describe an adjustment process using ad as analysis

Assume that economy starts at equilibrium and the mpc = 0.75. Find the effect of a $300 increase in government spending once all the rounds of multiplier process are complete?

  Determine what return did barney and lynn earn

A good stock-based mutual fund should earn at least 10% per year over a long period of time. Consider the case of Barney and Lynn, who were overheard gloating (for all to hear) about how well they had done with their mutual fund investment.

  Provide reasons to explain what the government

Provide reasons to explain what the government would have to do to keep the unemployment rate

  Identify that a risk averse agent offered terms worse

Identify that a risk averse agent offered terms worse than actuarially fair will not choose to insure fully.

  Elucidate if our current u.s. economic conditions

Elucidate if our current U.S. economic conditions are more consistent with the Keynesian or classical economic theories.

  Discuss the ability to develop innovative products

Determine which best supports reason for why the use of teams by Anacorp Corporation is considered critical to its ability to develop and commercialize innovative products?

  How much will your firm''s total revenues

the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is -1.8..

  Illustrate circumstances under which this would be true

A recent editorial advocated a cut in the payroll tax, with the argument that such a tax cut would "stimulate employment, since employers shoulder half the burden of the tax." Use a graph to illustrate circumstances under which this would and woul..

  To increase the price of a product in competitive market

If the price of a product produced in a competitive market increases. who is most likely to occur in the labor market for workers who produce the product.

  Suppose the problems that hinder growth in developing

Suppose the problems that hinder growth in developing economies are poor infrastructure, lack of financial institutions and a sound of money supply.

  Elucidate who decides whether these particular products

Elucidate who decides whether these particular products should continue to be produced and offered for sale. How do these decisions differ between capitalist and socialist systems.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd