What is the estimated standard deviation of the sample mean

Assignment Help Business Economics
Reference no: EM131001832

Suppose you have a sample of body weights from a population of males above 20 years of age. Your sample size is 121 men. Body weights are approximately normally distributed. Your sample mean is 190 pounds, and your estimated population standard deviation is 44 pounds. a. What is the estimated standard deviation of the sample mean? b. Construct a 95% confidence interval for the population mean. c. Develop a hypothesis test that can be used to determine whether the population’s mean body weight is different than 180 pounds. Use a significance level of 5 percent. (i) Construct a test statistic for this your test (ii) Indicate whether you reject the null hypothesis or do not reject, and why.

Reference no: EM131001832

Questions Cloud

Impact of each of transactions for balance of payments : Suppose a US company purchases 1 million Euros’ worth of automobiles from a German car manufacturer, and pays with the proceeds from the sale of Eurobonds. Calculate the impact (debits and credits) of each of these transactions for the balance of pay..
Would you expect deviations from the law of one price : Would you expect deviations from the law of one price between the United States and Mexico to have risen or fallen over the past two decades? Explain your answer carefully, providing details on the types of goods and services which you believe would ..
Benefits-potential costs for country of opening up to trade : Suppose a small, relatively poor country decides to pursue trade and financial sector liberalization, opening up its economy to international transactions with the rest of the world in goods, services, factor services and assets. Assume it will follo..
Analysis on price ceilings and floors : Analysis on price ceilings and floors. Talk about a product that you use that has or had been placed into a price control (floor or ceiling). Now that the economic impact of controls have been explained to you do you think the controls are necessary ..
What is the estimated standard deviation of the sample mean : Suppose you have a sample of body weights from a population of males above 20 years of age. Your sample size is 121 men. Body weights are approximately normally distributed. Your sample mean is 190 pounds, and your estimated population standard devia..
Competitive market without government regulations : The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of hamburgers is $7 each. Complete the following table by indicating whether each of the statements is an example of a price ce..
Throughout most of human history-dominate human landscape : Throughout most of human history, people lived in relatively small, egalitarian bands. With the advent of farming, stratified societies began to emerge and today dominate the human landscape. For this question, explain Diamond’s thesis as to A. Why t..
Why the primary objective of maximizing shareholder value : Describe why the primary objective of maximizing shareholder value may actually be the most beneficial for society in the long run.
Determine the optimal number of units to put in a package : A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 90 - 0.25P, and the marginal cost of production is $120. Determine the optimal number of units to put in..

Reviews

Write a Review

Business Economics Questions & Answers

  Summarize the explanations for long-term growth

Draw a simple circular flow diagram showing the flow of dollars, goods & services between households & firms. Explain why the dollar flow out of households and into businesses must be equal. Is the same true in the expanded circular flow? Explain. Su..

  Explain the decline in deficits and subsequent surpluses

U.S. Budget Deficit: Visit the website of the Congressional Budget Office and find the U.S. Federal deficit (surplus) and total debt. As late as 1992, the United States was running budget deficits of nearly $300 billion.

  Long commute to work is an undesirable characteristic

One could argue that a long commute to work is an undesirable characteristic of any job. If most people live in the suburbs.

  Explain general medical makes disposable syringes

Explain General Medical makes disposable syringes for hospitals and doctor supply companies. The company uses cost plus pricing and currently charges 150% of average variable costs.

  Perfectly competitive industry when economic profit

What happens in a perfectly competitive industry when economic profit is greater than zero?

  Q1 bertrand price competition the two firms have the same

q1. bertrand price competition the two firms have the same demand curve p100-4q marginal cost of firm 1 is 5 and for

  How can the money supply fall when the base increases

The monetary base increased by 20% during the contraction of 1929-1933, but the money supply fell by 25%. Explain why this occurred. How can the money supply fall when the base increases?

  What are the components of the affordable care act

What are the components of the Affordable Care Act? What improvements have the Affordable Care act made to the United States Healthcare delivery system? What are some examples of how new legislation will affect the problems associated with cost, acce..

  Q1 suppose that there are two products soda along with

q1. suppose that there are two products soda along with clothing. both brazil and the united states produce each

  Market demand for long-playing records

Over the years the market demand for “long-playing records made of polyvinyl has fallen considerably as new technologies replaced the old “lp” yet lps are still available for sale and they sell at price points higher (in some cases much higher) than ..

  How will an increase in the savings rate affect the growth

How will an increase in the savings rate affect the growth rate of per capita output in an endogenous growth model?

  Ive in a simple economy what is additional information

Assume to you live in a simple economy in that only three goods are produced also traded: fish, fruit also meat. Illustrate what additional information might you require constructing your measure?

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