State the name and the value of the statistic

Assignment Help Finance Basics
Reference no: EM132433844

The manufacturer of a particular type of airbag was notified that one such airbag had activated in a dangerous manner. As part of its preliminary investigation the manufacturer took a sample of 120 cars with this type of airbag and tested each to see if any others also activated dangerously. It was found that eight of the airbags did in fact activate dangerously.

a. State the name and the value of the statistic that would provide the best estimate for the proportion of the population of these airbags that would activate dangerously.

b. Construct a 95% confidence interval to estimate the proportion of all airbags of this type to activate dangerously.

d. The company's consumer affairs department wanted to be able to report a narrower confidence interval from this exercise. What would have to be done to obtain a narrower confidence interval, while maintaining the same 95% level of confidence?

e. The consumer affairs department finally determined that they needed an estimate of the proportion of defective airbags of this type to within +/-2% with a 95% confidence level. Use the information from the preliminary investigation to determine the sample size required.

Reference no: EM132433844

Questions Cloud

What are barriers that affect a patient ability to learn : What are some of the barriers that affect a patient's ability to learn? How does a patient's readiness to learn, or readiness to change, affect learning outcome
Describe the formation of DHS : Describe the formation of DHS. What changes to DHS and FEMA were made following Hurricane Katrina? Why?Describe the process of Presidential Disaster Declaration
Explain the rate of return on the saving component : Evaluate and explain the rate of return on the saving component in most cash-value policies and discuss the reason for negative returns during the early years
How social media can be used as a health promotion tool : Reflect on Florida's current health education programs such as Zika Free Florida, Tobacco Free Florida and consider what part the media plays in such disease.
State the name and the value of the statistic : State the name and the value of the statistic that would provide the best estimate for the proportion of the population of these airbags that would activate
Do you believe that all data should be encrypted : Do you believe that all data should be encrypted? Many computing professionals think this is a good idea. But a small number of computing experts feel
How to manage cultural risks and other factors : Discuss how to manage cultural risks and other factors related to a foreign operation of a multinational business.
Discussion about the different family structures : What is a definition of family that encompasses the different family structures prevalent today? Discuss the importance of acknowledging nontraditional.
Research on NYC Neighborhood Health : Research on NYC Neighborhood Health.describe the epidemiological data of a NYC neighborhood in the following public health areas:Asthma & the Environment

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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