Confidence intervals for the average number

Assignment Help Basic Statistics
Reference no: EM132191941

SE=std error/sqrt(sample size)

So in this case:

SE = 50/sqrt(100)

SE = 50/10

SE = 5

The company wants an estimate of potential sales. They launched a test across 100 stores. These 100 stores had average daily sales of 140 units with a standard deviation of 50.

Calculate the 99%, 95%, and 68% confidence intervals for the average number of units anticipated to sell.

Reference no: EM132191941

Questions Cloud

Percentage of sample means : Suppose a random sample of 20 balls are selected. What percentage of sample means will be less than 5.15 inches?
Find the probability that x is greater : find the probability that x is greater than or equal to 35 using the normal approximation to the binomial. ( discuss whether continuity correction is required o
Service responsibilities of a cable company : An important part of the customer service responsibilities of a cable company relates to the speed with which trouble in service can
Perform the test at significance level : what is the calculated value of the test statistic? From the hypotheses according to the question and perform the test at 1% significance level
Confidence intervals for the average number : Calculate the 99%, 95%, and 68% confidence intervals for the average number of units anticipated to sell.
Effects of the length of an exercise program : What statistical test would I run for the following example? A researcher is interested in the effects of the length of an exercise program on the flexibility
How does indoor air pollution impact child health around : What role do socio-economics, policy decisions, and race play in the ability of people to respond to health issues caused by air pollution?
What is the probability that sam will catch cooties : The probability Sam will catch cooties when she goes to school is 0.8. Sam is going to school 4 days next week.
Decision regarding the null hypothesis : If the company's claim is to be tested, determine the value of the test statistic and state your decision regarding the null hypothesis.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Find mean and the standard deviation of given distribution

Find the mean and the standard deviation of this distribution.- Let Y = 3X - 2. Use the rules for means and variances to find the mean and the standard deviation of the distribution of Y.

  What is the probability that all three will be blue

A Container has 6 blue marbles, 3 red marbles, and 6 white marbles. If 3 marbles are drawn with replacement, what is the probability that all three will be blue?

  Number of heads equals number showing on die

(a) What is the probability that the number of heads equals the number showing on the die?

  Probability problem marginal analysis

On the fictitious game show "Marginal Analysis for Everyone" the host subjects contestants to unusual tests of mental skill. On one, a contestant may choose one of two identical envelopes labeled A and B, each of which contains an unknown amount o..

  Independent of the others by 1850

Argue to what extent each region was independent of the others by 1850?

  Compute the conditional probability

Compute the conditional probability that the first die shows 4, given that the sum of the three numbers showing is 12.

  Eat your fruits and vegetables

Nutrition experts recommend that we eat five servings of fruits and vegetables each day. The BRFSS data set described in the previous

  Operate in the foreign exchange market

Using examples, describe how forward markets and spot markets operate in the foreign exchange market.

  Mnc cash flows and exchange rate risk

MNC Cash Flows and Exchange Rate Risk Asheville Co. has a subsidiary in Mexico that develops software for its parent. It rents a large facility in Mexico and hires many people in Mexico to work in the facility.

  Find population variances from both kinds of digital cameras

Suppose that population variances from both kinds of digital cameras are equal, is there evidence of difference in mean battery life between two kinds of digital cameras.

  Proportion of voters which has changed

After the presidential debates, a random sample of 1200 voters showed that 540 favored the Democratic candidate; 480 were in favor of the Republican candidate; 40 were in favor of the Independent candidate, and 140 were undecided. At a 1% level of..

  What is the weighted mean for shipping cost per unit

The unit shipping costs (dollars per box) for the four products are $5, $2, $4, and $10, respectively. What is the weighted mean for shipping cost per unit?

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