Find confidence interval for the average savings in percent

Assignment Help Basic Statistics
Reference no: EM131650313

Question: Drugs. In a full-page ad that ran in many U.S. newspapers in August 2002, a Canadian discount pharmacy listed costs of drugs that could be ordered from a Web site in Canada. The table compares prices (in US$) for commonly prescribed drugs.

908_9.png

a) Give a 95% confidence interval for the average savings in dollars.

b) Give a 95% confidence interval for the average savings in percent.

c) Which analysis is more appropriate? Why?

d) In small print the newspaper ad says, "Complete list of all 1500 drugs available on request." How does this comment affect your conclusions above?

Reference no: EM131650313

Questions Cloud

Define social justice and social justice warriors : What is diversity, define Social Justice and Social Justice Warriors; are these helpful aspects of working with diversity and cultural awareness?
When management is empowering employees : When management is empowering employees, it means management is giving employees. Which of the following bases of power is based on an individual's charisma?
Compelling business reasons for change include : Compelling business reasons for change include all of the following EXCEPT:
Products based on at least two of its characteristics : Discuss the Diffusion and Adoption of new products based on at least two of its characteristics.
Find confidence interval for the average savings in percent : Drugs. In a full-page ad that ran in many U.S. newspapers in August 2002, a Canadian discount pharmacy listed costs of drugs that could be ordered.
Discuss was the detention reasonable : When she tried to leave the store, she was stopped in a public place by a security officer who said that another employee had reported seeing
Analyze the government and consumer debt : Investigate and analyze the government and consumer debt, along with corporate and individual citizen’s taxation rates.
Behavioral analysis interview : Need assistance creating 15 informational powerpoint slides on the origin, history, and use of the Behavioral Analysis Interview (BAI) and tips on best practice
Future purchase decisions and employment opportunities : After this investigation, explain how the product’s supply chain impact your future purchase decisions and employment opportunities.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

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