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A professor is interested in comparing the average amount spent on textbooks for freshmen and sophomores. A random sample of 8 freshmen yielded a sample mean amount of $1013 and a sample standard deviation of $75. A random sample of 8 sophomores yielded a sample mean amount of $1234 and a sample standard deviation of $340. Construct a 99% confidence interval for the difference between the mean amount spent on textbooks by freshmen and the mean amount spent by sophomores (ie. do freshmen minus sophomores). Since the sample standard deviations are wildly different, use a method which does not assume the populations have the same variance.
What is the appropriate degrees of freedom in this case? Give your answer to four decimal places.
What is the lower confidence limit on the interval? Give your answer to two decimal places.
What is the upper confidence limit on the interval? Give your answer to two decimal places.
Using this interval, is it reasonable to conclude that the average sophomore spends more than the average freshman?
Yes because the upper endpoint on the interval is below 0.Yes because the upper endpoint on the interval is above 0.No because the interval contains 0.Yes because the interval contains 0.
Processing an order for more disks cost $15. Zip uses 60000 disks annually, and the company has a 25% cost of capital. (a) Find the optimal order quantity.
For many years TV executives used the guideline that 30 percent of the audience were watching each of the prime-time networks and 10 percent were watching cable stations on a weekday night.
Suppose population standard deviation for those drinking regular coffee is 1.20 cups per day and 1.36 cups per day for those drinking decaffeinated coffee.
Plot the graphs of the following and identify the graph that represents the cooresponding functions and justify your answer.
How much time should be allowed if we wish to ensure that at least 9 out of 10 students (on average) can complete it? (round to the nearest minute).
if Susan constructs a small station and the market is good, she will realize a profit of $50,000.What is the maximax decision? What is the Hurwicz (criterion of realism) decision with α = 0.8?
An anatomy teacher hypothesizes that the final grades in her class are distributed as 10% A's, 23% B's, 45% C's, 14% D's, and 8% F's. At the end of the semester, she has the following grades.
Calculate the z - scores for the three samples, compare the z score to the t-statistic, is the null hypothesis accepted or rejected?
Founder of modern probability and statistics theory Cardano asserted that if one throws a die three times the chance that a given number will show at least once is 50 percent. This is now recognized as the wrong answer. Calculate, what is a probab..
Annual family dental expenses for the families of a random sample of ten employees of a company are given below. You can assume the family dental expenses for the employees of the company are normally distributed.
Using z-scores, a population with mean = 37 and standard deviation = 8 is standardized so that the new mean is mean = 50 and standard deviation = 10. How does an individual's z-score in the new distribution compare with his/her z-score in the orig..
The random variable x has a normal distribution with mean=30 and standard deviation=30, find the probability that x assumes a value more than two standard deviations from its mean. more than three standard deviations from the mean.
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