Probability that the sample mean would differ

Assignment Help Basic Statistics
Reference no: EM1387748

The cost of 5 gallon of ice cream has a standard deviation of 8 with a mean of 26 dollars during the summer. What is the probability that the sample mean would differ from the true mean by greater than .04 dollars if a sample of 183 5 gallon pails is randomly selected? Round answer to 4 decimal places.

Reference no: EM1387748

Questions Cloud

Government should do more to protect consumers : Explain whether the U.S. government should do more to protect consumers or if consumers should become more aware and informed in today's business environment.
Picnic tables and chairs to sell various stores : CT Furniture makes wooden picnic tables and chairs to sell various stores. These stores request both finished and unfinished furniture. To make this furniture
Confidence interval for the difference in two proportions : Western residents reported that they were completely satisfied with their local telephone service. Find the 95% confidence interval for the difference in two proportions.
In what sequence should the jobs be processed : In what sequence should the jobs be processed according to the FCFS scheduling rule? In what sequence should the jobs be processed according to the EDD scheduling rule?
Probability that the sample mean would differ : What is the probability that the sample mean would differ from the true mean by greater than .04 dollars if a sample of 183 5 gallon pails is randomly selected? Round answer to 4 decimal places.
Explain in detail how two other factors specific : explain in detail how two other factors specific to this company might make it difficult to evaluate the financial impact of this strategy.
Audits are commonly associated with the financial : Audits are commonly associated with the financial and accounting records of the business. Using the publicly available financial statements of the corporation you
What penalty is the company incurring by its present order : What penalty is the company incurring by its present order size? The manager would prefer ordering 10 times each month but would have to justify any change in order size. One possibility is to simplify order processing to reduce the ordering cost...
Capital investments from companies : Toledo, OH has been experiencing improved economic growth following huge capital investments from companies like Chrysler. You have just been hired by RGP, an agency for facilitating business expansion and location in the Toledo metropolitan area.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Chance of selecting a sample whose sample mean is larger

A power of 0.2203 can be interpreted to mean there is a 22.03% chance of selecting a sample whose sample mean is larger than 166.3 lb.

  Stating the null and alternative hypotheses

Test the hypotheses that the average household income in the township is greater than $100,000. Hint: Start by stating the null and alternative hypotheses.

  Level of significance and p-value

At the .05 level of significance, can we conclude that those joining Weight Reducers on average will lose less than 10 pounds? Determine the p-value.

  Formulation of linear programming problem

Formulate a linear programming model for this problem.

  Likelihood of the sample mean

What is the likelihood the sample mean is greater than $22.50 but less than $25.00?

  Fitting of simple linear regression equation

Fitting of simple linear regression equation - Given the student population for a school district over the past few years, find the prediction equation for this data.

  Making a stem plot for height data

Make a stem plot for the men height data. Calculate the five-number summary for the women.

  Which of the statement is true under the normal curve

The area under a normal curve is always equal to 1, no matter what the mean and standard deviation are.

  Geometric mean for the given data

Confirm that these statements are accurate by finding the geometric mean rate of increase.

  Confidence interval for a confidence level

We assume that the population is approximately normally distributed.  Find the confidence interval: for a confidence level of 95%:

  Chi-square goodness-of-fit test for observed frequency

In chi-square goodness-of-fit test when there is close agreement between observed frequency and expected frequency, chi-square test value will be small.

  Find out the value of p based on the expected values

If p is the probability of Event 1 and (1-p) is the probability of Event 2, based on the expected returns, for what values of p would you select A? B? C? Values in the table are payoffs.

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