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Suppose that you wanted a 95% confidence interval for the mean of a normally distributed random variable whose actual mean is 10 and whose actual standard deviation is 5. Using the method described in class, calculate the sample size m necessary for the 95% confidence interval to have a width of 3 units. Please use the following procedure and report your results at each step. Since we specify a 95% confidence interval, the value of c that you will use is c = 2. (In case you are curious, the precise value of c for a 95% confidence interval is c = 1.96, which is a number you may recognize from a previous statistics course. For our purposes, 2 is close enough.) Generate 15 random numbers from a normal distribution with mean 10 and standard deviation 5. You can do this using the same Excel syntax that you used for POD #7 (just changing the mean and standard deviation). Calculate the sample standard deviation of the 15 values. Make sure that you use the Excel command = STDEV.S for this step. Use this sample standard deviation to calculate the number of Monte Carlo values necessary to achieve a 95% confidence interval for the mean, with the desired width of less than 3 units. If your value of m is not an integer, round up to the next integer. For example, if you calculate m = 35.03, you would round up to m = 36. Generate this number of random values from the normal distribution and report the average value and the confidence interval for the mean. Be sure to show the details of your confidence interval calculation. Is the actual mean of the normal distribution (10) within the confidence interval? Is the width of your confidence interval within the desired band (w* = 3)?
The building is to be constructed on land leased for $21,000 per year Net working capital must be increased by $100,000 Annual revenues from the new branch will be $400,000 Of this $400,000 in revenues, $55,000 will be drawn away from the bank’s main..
Compute the Z score for each company.- According to the Altman model, which of these firms is most likely to experience financial failure?
Which of the following is not an example of an anomaly to the efficient market hypothesis?
Allison Engines Corporation has established a target capital structure of 40% debt and 60% common equity. The current market price of the firm's stock is P0 = $36; its last dividend was D0 = $2.80, and its expected dividend growth rate is 8%. What is..
When you graduate you have $15,000 on your credit card which charges an APR of 14% compounded monthly. The credit card company tells you that your minimum payment is $232.90. If you make the minimum payment every month, how many months will it take y..
An entrepreneur has 1000 shares of the venture. An early investor invested $10,000 for 2000 shares that included a full ratchet provision (5 per share ) now in a subsequent round, an investor is wiling to invest $8,000 for a 40% share of the ending e..
How are Net Present Value (NPV) and Internal Rate of Return (IRR) related? Which is the better decision rule to follow for project selection or rejection? Why? There have been two 'modifications' in discounted cash flow metrics. First, the Internal R..
Williams & Sons last year reported sales of $12 million, cost of goods sold 10 million, and an inventory turnover ratio of 2. The company is now adopting a new inventory system. If the new system is able to reduce the firm's inventory level and incre..
Likeline, Inc., has sales of $445,000, costs of $173,000, depreciation expense of $72,000, interest expense of $36,000, and a tax rate of 35 percent. What is their net income? What are some important factors to consider when conducting a credit evalu..
Midwest Electric Company (MEC) uses only debt and common equity. It can borrow unlimited amounts at an interest rate of rd = 10% as long as it finances at its target capital structure, which calls for 30% debt and 70% common equity. These two project..
How many mortgage payments were left on Harry's house if the remaining balance is $72,375.15 given that he purchased it at 14% interest and has been making a monthly payment of $900?
ABC Company is currently quoted at 53 on NASDAQ. A Rights Offering has been declared with an exercise price of 48, and 4.92 rights are needed to buy a new share. If you own 10 round lots of this company, answer the following: How many new shares can ..
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