Reference no: EM132064133
All parts please
1. The Federal Election Commission collects information about campaign contributions and disbursements for candidates and political committees each election cycle. During the 2012 campaign season, there were 1,619 candidates for the House of Representatives across the United States who received contributions from individuals. The table below shows the total receipts from individuals for a random selection of 40 House candidates rounded to the nearest $100.
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$3,600
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$1,243,900
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$10,900
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$385,200
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$581,500
|
|
$7,400
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$2,900
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$400
|
$3,714,500
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$632,500
|
|
$391,000
|
$467,400
|
$56,800
|
$5,800
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$405,200
|
|
$733,200
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$8,000
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$468,700
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$75,200
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$41,000
|
|
$13,300
|
$9,500
|
$953,800
|
$1,113,500
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$1,109,300
|
|
$353,900
|
$986,100
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$88,600
|
$378,200
|
$13,200
|
|
$3,800
|
$745,100
|
$5,800
|
$3,072,100
|
$1,626,700
|
|
$512,900
|
$2,309,200
|
$6,600
|
$202,400
|
$15,800
|
a) Determine the mean and standard deviation of the sample:___________
What is the point estimate for the population mean?___________
b) Multiple choice: What is meant by the term “95% confident†when constructing a confidence interval for a mean?
A. If we took repeated samples, approximately 95% of the samples would produce the same confidence interval.
B. If we took repeated samples, approximately 95% of the confidence intervals calculated from those samples would contain the sample mean.
C. If we took repeated samples, approximately 95% of the confidence intervals calculated from those samples would contain the true value of the population mean.
D. If we took repeated samples, the sample mean would equal the population mean in approximately 90% of the samples.
c) If we took this same sample 200 times, using a 95% confidence level, how many confidence intervals would you expect to be wrong?_________
Create a 95% confidence interval for the mean total individual contributions. (Round your answer to the nearest dollar): CI: (_____ ,_____
Using 95% confidence, calculate the margin of error. $_____(2 decimal places)
State the previous confidence interval is the form of p^±ME: _____ ± _____ (2 decimal places)
d) If we changed to an 80% confidence level, what would happen to your confidence interval and your margin of error?
If we changed to an 99% confidence level, what would happen to your confidence interval and your margin of error? Would the data support or fail to support the following claim? Provide your answer in the form of a complete paragraph, including a defense for your answer using appropriate terms from this section. You may find it helpful to reference the data. Claim: The average amount of campaign contributions from the US House is around $200,000
If we were to increase our sample size, what affect would you expect this to have on the margin of error? (Answer as a complete sentence) Would the data support or fail to support the following claim? Provide your answer in the form of a complete paragraph, including a defense for your answer using appropriate terms from this section. You may find it helpful to reference the data. Claim: If the average income in the United States is around $51,939, any citizen could assemble a competitive campaign for Congress using 2 years of their annual income.
If the annual salary in the United States is $51,939, what would be the average number of years worth of salary that someone would need to save up to run a competitive campaign for Congress?