True mean price for particular model

Assignment Help Basic Statistics
Reference no: EM13105071

Estimate the true mean price for this particular model with 95% confidence?

The Prices (in dollars) for a particular model of digital camera with 6.0 megapixels and an optical 3X zoom lens are shown below for 10 online retailers. Estimate the true mean price for this particular model wtih 90% confidence.

226, 241, 215, 206, 211, 209, 193, 251, 224, 202

Reference no: EM13105071

Questions Cloud

Determine sample size for estimating population mean : In a sample of 30 randomly selected women, it was found that their mean height was 63.4 inches. From previous studies, it is assumed that the standard deviation is 2.4.
Information about margin of error-confidence interval : To estimate the average time it takes to assemble a certain computer component, the industrial engineer at an electronic firm timed 40 technicians in the performance of this task, getting a mean of 12.73 minutes and a standard deviation of 2.06 mi..
Explain how the product and target market strategies fit : Discuss how the product fits within a product line and the depth and breadth of the line. Explain how the product and target market strategies fit with the organizational strategy.
Write essays on any economically significant plant : Write down 2-4 pages Essays on any economically significant plant and your essay must highlights on: Correct scientific name (genus, species) and family of plant or plant product derived from.
True mean price for particular model : Estimate the true mean price for this particular model with 95% confidence?
Possible cost drivers for aircraft manufacturing firm : ABC Airlines has calculated the total costs (fixed and variable) for the passenger service flights between Los Angeles, California and Orlando, Florida. The two methods used were the high-low method and the least squared method.
Make the class employee to initializes three data members : Make the class called Employee which comprises three pieces of information as data membersa first name (type string), last name (type string) and monthly salary (type int).
Research different types of cultures : You are required to research different types of cultures in relation to Computing and IT: gaming culture, internet culture, and the impact that one culture of your choice has on the communication processes.
Determine the value of the game : Consider the following two-person zero-sum game. Assume the two players have the same two strategy options. The payoff table shows the gains for Player A.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Hypothesis test-one sample mean

Test the claim that for the adult population of one town, the mean annual salary is given by μ = $30,000.

  Statistics practice questions

Statistics practice questions answers in a correct order and if possible copy all the graphs in excel. How large a sample size (trading days) is needed to estimate the population mean number of shares traded per day to within 100 million with 95% co..

  Probability of finding two or more defects in sample

A square yard of carpet is examined for surface defects. Currently, the process produces an average of 2.4 defects per square yard. What is the probability of finding 2 or more surface defects in the sample.

  Weekly demand for a product

The weekly demand for a product follows a normal curve with an average of 1000 units and a standard deviation of 200 units. In how many weeks during a typical 52-week year would be above 800 units?

  Interpret the result and test to reject hypothesis for mean

Shall we reject the hypothesis that the population mean is 6.0? Interpret the result.

  Mean weight of adult women

To investigate this belief, he randomly samples 41 adult women and records their weights. The scores have a mean of 111 lbs. and a standard deviation of 12.4. A local census taken several years ago shows the mean weight of adult women was 115 lbs.

  Central limit theorem-population shape of concern

State the main points of the Central Limit Theorem for a mean. Why is population shape of concern when estimating a mean? What does sample size have to do with all?

  Particular stretch roas during a month

The number of traffic accidents that occurs on particular stretch roas during a month follows a Poisson distribution with mean of 8.5. Find the probability of observing exactly three accidents of this stretch of road next month.

  Significance level that the treatment means are equal

The following is sample information. Test the hypothesis at the .05 significance level that the treatment means are equal.

  Statistical problem assistance

Professor Brunner had students in his Marketing class rate his performance as Excellent, Good, Fair, or Poor. A graduate student collected the ratings and assured the students that Professor Brunner would not receive them until after the course gr..

  Correlations between speed and strength

Use the table to determine whether the correlations are significant and how you would interpret the results. The correlation between speed and strength for 20 women is .567. Test these results at the .01 level using a one-tailed test.

  Probability-standard normal distribution

Nationwide, GMAT scores in a particular year had an average of 528 with an SD of 112 and the scores roughly followed a normal curve. If a student scored 600 on the exam, approximately what percentage of test-takers scored below this student?

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