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Suppose that a random sample of fifteen recently sold houses in a certain city has a mean sales price of $290000 , with a standard deviation of $15,000. Under the assumption that house prices are normally distributed, find a 90% confidence interval for the mean sales price of all houses in this community. Then complete the table below.
Carry your intermediate computations to at least three decimal places. Round your answers to the nearest whole number.
What is the lower limit of the confidence interval?
What is the upper limit of the confidence interval?
Assuming the sigma of 200 was actually the standard deviation for the sample, recalculate the interval estimate. Discuss how this changed your result from that in part b.
After careful analysis, East West has determined the following cost breakdown for the four manufacturers (in $1,000's) based on whether or not the trade bill passes:
Describe each of the following methods of statistical inference in detail (Please try to use layman's terms).
An averages of four tax evaders per 100 tax filers. If 50 tax filers are randomly selected from the state, what is the probability of the following:
What is the probability that a visually impaired student gets less than 6.9 hours of sleep?
What contingency table test is used to see if there is a difference in the frequency distribution for two different groups?
Determine mean and standard deviation for number of erroneous returns per batch.
The cheetahs' coach believes that the Rockets' times are normally distributed as well. Construct a 95% confidence interval the Coach to compare the two teams' sprint units.
The theory underlying inferential statistics and other theoretical aspects are subjects we do not often consciously think about in our daily activities.
For each lettered part, a through c, examine the two given sets of numbers. Without doing any calculations, decide which set has the larger standard deviation and explain why. Then check by finding the standard deviation by hand .
What is a 99% confidence interval for the true proportion of dentists in the population that would make such a recommendation?
They both want to know what family member typically does the research about possible honeymoon destinations, and who primarily makes the decision on selecting the destination.
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