Find the upper and lower confidence limits

Assignment Help Microeconomics

Reference no: EM133552456

Question: The following questions test your understanding of confidence intervals.

a. Let us determine the amount of time you spend each day exercising. For a given week, the values in minutes are: 51, 24, 16, 88, 63, 28, and 59. Assume that the amount of time you spend on exercise each day is normally distributed. Develop a 90% confidence interval for the population average amount of time.

b. Refer to part (a). How do you interpret this confidence interval?

c. In a survey of 600 individuals, 16.4% indicated that they had fallen asleep in front of the TV in the past week. What is the 98% confidence interval for the population proportion?

d. The number of widgets produced each hour is normally distributed with a standard deviation of 7.4. For a random sample of 15 hours, the average number of widgets produced was 587.3. Find the upper and lower confidence limits of a 98% confidence interval for the population mean number of widgets produced in an hour.

e. A 95% confidence interval estimate for a population mean is determined to be 63 to 70. If the confidence level is reduced to 92.5%, the confidence interval for / becomes narrower. Is this statement true or false?

Reference no: EM133552456

Questions Cloud

Market diagrams for online education : Efficient than imposing a price ceiling. Appraise the validity of this claim and support your answers with suitable diagrams for the education market

What are the main reasons behind higher food prices : What are the main reasons behind higher food prices in remote communities and What are the reasons behind the increased prices in remote communities in recent

What emotional or logical impact do individual immigration : What emotional or logical impact do the individual immigration stories have on the essay? What effect does the first-person testimony of the children have?

Describe what happens to the supply curve : Describe what happens to the supply curve, demand curve, equilibrium price, and equilibrium quantity in the market for your good or service

Find the upper and lower confidence limits : Find the upper and lower confidence limits of a 98% confidence interval for the population mean number of widgets produced in an hour

Examples of how culture affects learning : Examples of how culture affects learning. Examples of sociocultural influences on English Language Learners. A discussion regarding bilingualism and home

What types of violence are there and at what levels : What types of violence are there and at what levels? Is there political violence and by whom? Is there gender-based or conflict-related sexual violence?

What is the effect on the supply curve : what is the effect on the supply curve? (b) What is the effect on the supply curve of an increase in the price of the good? (c) What is the difference

Why is it important to have the word audism in our community : Why is it important to have the word 'audism' in our community? Does it apply only to ASL/American Deaf people? what the word "Audism" means

User Account

All Pages