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The average cost per night of a hotel room in New York City is $273 (SmartMoney, March 2009). Assume this estimate is based on a sample of 45 hotels and that the sample standard deviation is $65.
a. With 95% confidence, what is the margin of error (to 2 decimals)?
b. What is the 95% confidence interval estimate of the population mean?
c. Two years ago the average cost of a hotel room in New York City was $229. Discuss the change in cost over the two-year period.
Make a forecast for 2004, using either the fitted trend model or a judgment forecast. Why is it best to ignore earlier years in this data set?
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For a normal distribution, the probability of randomly selecting a z-score greater than z = -2.00 is p = .0228.
Then use ogive to estimate median and first and third quartiles. Also utilize it to reply following question: What percent of 60 mutual fund loads are less than 75.
The table given below shows joint probability distribution of X and Y . Determine the covariance between the X and Y ?
Find a 95% confidence interval for the proportion p of the inner-city, working-class group who eventually became alcoholics.
Find the probability of failure of system for any 4 hours of operation?
In a large western university, 15% of the students are graduate students. If a random sample of 20 students is selected, what is the probability that the sample contains:
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You're a risk manager of ABC company and you are reevaulating your insurance contract. Your insurer has informed you that the expected value of frequency per month for ABC is 2.43.
Based on our poll what is the margin of error of the proportion of voters favoring the incumbent?
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