What is wrong with given statement

Assignment Help Basic Statistics

Reference no: EM131427192

Confidence interval mistakes and misunderstandings. Suppose that 101 randomly selected members of the Karaoke Channel were asked how much time they typically spend on the site during the week.5 The sample mean x was found to be 4.2 hours, and the sample standard deviation was s = 2.5 hours

(a) Cary Oakey computes the 95% confidence interval for the average time on the site as 4.2 ± 1.984(2.5/101). What is his mistake?

(b) He corrects this mistake and then states that "95% of the members spend between 3.71 and 4.69 hours a week on the site." What is wrong with his interpretation of this interval?

(c) The margin of error is slightly less than half an hour. To reduce this to 15 minutes, Cary says that the sample size needs to be doubled to 202. What is wrong with this statement?

Reference no: EM131427192

Questions Cloud

Audit software development organization : During an audit software development organization, an auditor found that the organization did not properly follow industry best practices including peer review and board approval prior to moving application into the production environment. The aud..

Find the charges related to asset sales and restructuring : Describe how analysts might treat these special items, and comment on Sears's performance across the two years.

Calculate the amount of folate in each of the above foods : Sue learned in class that 400 micrograms provides 100% of the Daily Value for folate. Calculate the amount of folate in each of the above foods.

Floor moving computers between work areas : A technician has raised concern over employees on the manufacturing floor moving computers between work areas. The technician is concerned that the activity is making it more difficult to track down rogue devices on the network and provide timely ..

What is wrong with given statement : The margin of error is slightly less than half an hour. To reduce this to 15 minutes, Cary says that the sample size needs to be doubled to 202. What is wrong with this statement?

Discuss the differences in the industries : FIN 571- Discuss the differences in the industries. Discuss the different measurement conventions and how this affects presentations. Contrast IASB basis for accounting (IFRS) and FASB/GAAP accounting.

Project team responsible for new extranet application : A security architect is supporting a project team responsible for a new extranet application. As part of its activities, the team is identifying roles within the system and documenting possible conflicts between roles that could lead to collusion ..

What is the maximum amount of buddz that ajax can afford : Consider a consumer named Ajax with a budget of $100 dollars. The consumer has to spend all of his/her budget on "Buddz" or "Drankz". Buddz have a price of $10+$B per gram and Drankz have a price of $10 per litre. What is the maximum amount of Bud..

Would your margin of error be greater than or equal to : If you wanted 99% confidence for the same study, would your margin of error be greater than, equal to, or less than 0.055? Explain your answer.

User Account

All Pages