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1) When we say we have confidence level of 95% what do you believe our "margin of error" is?
2) If we move level of confidence from 95 to 99%, what will occur to our margin of error? What will occur to width of our confidence interval?
3) Would we have got better feel for amount of flour required if we'd used larger sample? Why (mathematically) would this occur?
4) President of American insurance Institute wishes to compare yearly costs of auto insurance offered by two leading companies. He chooses a sample of 15 families some with only single insured driver, others with many teenage drivers, and pays each family a stipend to contact two companies and ask for price quote. To make data comparable, certain features, like the deductible amount and limits of liability, are standardized. Sample information is reported below. At 0.10 significance level, can we conclude that there is difference in amounts quoted?
Family
Progressive Car Insurance
GEICO Mutual Insurance
Becker
$2,090
$1,610
Berry
1,683
1,247
Cobb
1,402
2,327
Debuck
1,830
1,367
DuBrul
930
1,461
Eckroate
697
1,789
Oennan
1,741
1,621
Glasson
1,129
1,914
King
1,018
1,956
Kucic
1,881
1,777
Meredith
1,571
1,375
Obeid
874
1,527
Poice
1,579
1,767
Phillips
1,677
1,636
Tresize
860
1,188
Does the normal distribution yield a good approximation of the actual results?
Find out the regression equation Determine the value of Rsquare? Comment on value.
In exercise identify (a) sample and (b) population. Also, find whether sample is likely to be representative of population.
What is the p-value associated with the above sample result?
A coin is flipped e times and heads (h) or tails (t) are recorded:
Carry out test of independence to find out whether employee health insurance coverage is independent of size of company. Use α = 0.05 level of significance.
Sales manager wishes to award sales representatives who earn the largest commissions a bonus of= $1,000 .He can award bonus to 20% of representatives. Determine cutoff point between those who earn bonus and those who don't?
A manufacturer of 35-mm cameras knows that a shipment of 30 cameras sent to the large discount store contains 8 defective cameras. The manufacturer also knows that the store will choose two of the cameras at a random, test them, and accept the shi..
To findout 95 percent with confidence interval for the mean amount a citation. Police Chief Aaron Ard of River City reports 500 traffic citations were issued last month.
At the .05 significance level, is there a difference in the mean number of miles traveled per month between Cincinnati and Pittsburgh employees? Use the five-step hypothesis-testing procedure.
Suppose that this is a simple random sample of adult residents of Maine.
Conclude whether the given conditions justify using the methods of this section when testing a claim about a population mean µ.
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