Estimate the confidence level the average heated area

Assignment Help Basic Statistics
Reference no: EM13215987

The real estate assessor for a county government wants to study various characteristics of single family houses in the county. a random sample of 70 homes reveals that the average heated area of the house is 1759 square feet with a standard deviation of 380 square feet. estimate the 98% confidence level the average heated area of all single-family homes in the county

Reference no: EM13215987

Questions Cloud

Contrast the investing activities section of the cash flow : Assess whether the direct or indirect cash flow statement is higher quality financial reporting, consider whether direct cash flow information (1) is useful for predictive purposes, or (2) is valued in the direct cash flow reporting format, relati..
Normally distributed in the population : Assume that the data are normally distributed in the population. Now go back and examine the $1,250 figure published by Runzheimer International. Does it fall into the confidence interval computed from the sample data? What does it tell you?
Explain product contribution margin : the Bell product manager wishes to achieve a product contribution margin of 35%. Given their product currently is priced at $35.00, what would they need to limit the material and labor costs to?
What is sara donglas recognized gain or loss : Sara Douglas purchased 30 shares of WXY stock for $210, and on October 29, 2013, she purchased 90 additional shares for $900. On November 28, 2013, she sold 48 shares, which could not be specifically identified, for $480, and on December 8, 2013.
Estimate the confidence level the average heated area : Estimate the 98% confidence level the average heated area of all single-family homes in the county
Examine how operation management activities affect : Analyze how operation management activities affect the customer experience. Select two (2) operation management challenges and provide the solutions for confronting them.
Minimize the variance of q3 : Show that Q3 is an unbiased estimator for q and if Q1 and Q2 are independent, how should the constant a be chosen in order to minimize the variance of Q3?
How much is the overvalue of the firm if its beta is given : You are considering acquiring a firm that you believe can generate expected cash flows of $16,000 a year forever. However, you recognize that those cash flows are uncertain. a. Suppose you believe that the beta of the firm is 1.0. How much is the f..
What is the probability that at most 3 cars arrive : What is the probability that exactly 5 cars will arrive in a given hour and what is the probability that at least 3 cars arrive in a given hour ?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Use histogram to find how many points are out of control

Use the histogram to determine how many points are out of control according to the upper control limit and lower control limit.

  Confidence interval for the student population proportion

Of the 250 students in a blind taste test, 150 (60%) preferred Milwaukee's Best over Natural Light. Then the 90% confidence interval for the student population proportion preferring Milwaukee's Best is:

  Find the expected value using tree diagram

What should ING's General Counsel do to minimize ING's expected costs?

  Give the point estimate of population mean

A random sample of 121 checking accounts at bank showed an average daily balance of $280 the standard deviation of the population is known to be $6. Find the standard error of the mean.

  Standard methods for linear statistical prediction

Using standard methods for linear statistical prediction, find the percent increase in sales revenue that would be expected if the price were lowered by 15%. Find the usual measure of the strength of association between price reduction and sales re..

  Surveys about attitudes of americans

Assume a sample of 400 American adults were taken. Show the sampling distribution of the proportion of adults who balance their checkbook at least once a month.

  Role of theory in research proposals

What is the role of theory in research proposals? What are the elements of a study plan? Where might a beginning researcher lose logical flow among elements in a study plan? Why might that happen?

  Normal approximation to the binomial

According to study done by Nick Wilson of Otago University, the probability a randomly selected individual will not cover his or her mouth when sneezing was 0.267. Suppose you sit on a mall bench and observe 200 people pass by as they sneeze.

  Differential equations and integrals

Use differential to approximate square root of 16.3

  Type i error explanation

Metal detectors at airports are used to determine whether passengers are carrying weapons. If the null hypothesis states that a passenger isn't carrying a weapon, a type I error would occur whenever

  Which mutual fund to choose to invest the money

You can invest the money in one of two mutual funds with similar yearly average returns (9.8% vs. 9.9%). Which mutual fund would you choose?

  Estimate probability less had switched majors in two years

If a random sample of 500 third year students is taken at a city university, what is an estimate of the probability that 20 percent or less had switched majors within their first two years?

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