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Explain the continuity correction factor and provide a good

Assignment Help Basic Statistics
Reference no: EM13581821

Question 1: The mean starting salary for college Stats Major graduates in spring of 2011 was $65,000. Assuming a normal distribution with a S. D. of $4,000. What percent of the population have starting salaries:

• Between $59,000 and $70,000?
• More than $70,000?
• Less than $60,000?

Question 2: Explain the Continuity Correction Factor and provide a good example. (3-4 paragraphs)

Question 3: Randomly select a page from the white pages of our local phone book. Prepare a frequency distribution of the FINAL DIGIT of 35 randomly selected phone numbers. i.e., if a phone number is 831 5063, you would record the "3", since it was the last digit.

• Attach the original phone book page or copy of that page.
• State how you randomly / statistically selected the 45 phone numbers
• Draw a histogram of this population distribution and compute the population mean and standard deviation of the numbers.

Question 4: A local 7-11 store conducted a survey to determine the average amount of money that beer drinkers spend during SPRING BREAK Week. A sample of 50 "winos" revealed that X = $24 and the standard deviation was $6.

• What is the point estimate of this population mean? What does it signify?
• Using the 97% level of confidence, determine the confidence interval for u.

Question 5. The Wester Refineria company STATISTICIAN wants to estimate the proportion of customers who use a credit /debit card to pay at the pump. She surveyed 150 customers and found out that 120 paid using such a card.

• Estimate the population proportion
• Compute the standard error of the proportion
• Develop a 95 % C I for the population proportion
• DISCUSS your findings

Question 6: A survey is being conducted by KINT Univsion TV to find out how much time Maquila company executives spend watching television. A previous survey showed that the average viewing time per week was 9 hours with a S. D. of 3 hours. If the owner of KINT wants the estimate to be within one quarter of an hour of the viewing time, how many executives should be surveyed if a 99% level of confidence is desired?

Reference no: EM13581821

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