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In a study of student loan subsidies, the Department of Education reported that four-year Stafford Loan borrowers will owe an average of $12,168 upon graduation (USA Today, April 5, 1995). Assume that this average or mean amount owed is based on a sample of 480 student loans and that the population standard deviation for the amount owed upon graduation is $2200.
a. Develop a 90 % confidence interval estimation of the mean.b. Develop a 95 % confidence interval estimation of the mean.c. Discuss what happens to the width of the confidence interval as the confidence level is increased. Does this seem reasonable? Explain.d. If you were to decrease the width of the 95% confidence interval by 25% of its current width, how much samples do you need to collect?
A marketing analyst was studying the readability of two advertisements, each produced by a major company, and printed in the newspaper.
In order that the sample proportion and the population proportion not differ by more than 0.05 with 95% level of confidence, what sample size should be used?
Entire batch will be rejected if at least one of those tested is defective. Determine the probability that entire batch will be rejected?
Make an interval estimate the population means score for the daycare children so that you are 95% confident that the true mean is in your interval.
The breaking strengths of cables produced by a certain manufacturer have a standard deviation of 96 pounds. A random sample of 50 newly manufactured cables has a mean breaking strength of 1950 pounds.
ACT scores of high school seniors. The scores of high school seniors on the ACT college entrance examination in 2003 had mean JL = 20.80 and standard deviation (J = 4.80. The distribution of scores is only roughly Normal.
They want you to determine what the data indicate about this.In this problem I am having an issue trying to determine what equation to use to solve. Is this a one or two way ANOVA or should I just use a z-test to solve?
Use the given contingency table to (a) find the expected frequencies of each cell in the table, (b) perform a chi-square test for independence, and (c) comment on the relationship between the two variables.
Of the 500 surveyed, 350 said they would vote for the Democratic incumbent. Using the 0.99 confidence coefficient, what are the confidence limits for the proportion that plan to vote for the Democratic incumbent?
Treating Chronic Fatigue Syndrome Patients with chronic fatigue syndrome were tested, then retested after being treated with fluorocortisone.
At a .01 level of significance, test whether there is a difference between the 2 sample means. Construct a 99 percent confidence interval estimate of the difference between the two sample means.
Critically illustrate out the limitations of seasonal forecasting? Provide examples.
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