Determine the sample size needed to cut the margin of error, Business Management

Assignment Help:

Determine the sample size needed to cut the Margin of Error:

Below you are given ages that were obtained by taking a random sample of 9 undergraduate students.

19 22 23 19 21 22 19 23 21

a. Calculate the point estimator and determine an interval estimate at a 99% confidence level. Interpret your results.

b. Interpret the M.E. for part a.

c. Determine the sample size needed to cut the Margin of Error in half. No interpretation is needed.

d. At a 1% significance level, use the confidence interval method to determine if the average age of students is 22. Interpret your finding.
(Show and interpret the H0 and the Ha, state and use the decision rule, make a decision, interpret the decision)

e. At a 10% significance level, use the Z or T method to determine if the average age of students is 22. Interpret your finding. (This is a continuation of the previous part, no need to state the H0, the Ha. State the decision rule based on the Z or T method, make a decision at the new α = 10%, and interpret the decision)

f. At a 1% significance level, use the P-Value method to determine if the average age of students is 22. Interpret your finding. (This is a continuation of the previous part, no need to sate the H0, the Ha. State the decision rule based on P-Value, make a decision at the new α = 1%, and interpret the decision and Interpret the P-Value)


Related Discussions:- Determine the sample size needed to cut the margin of error

Divesity management, how would you address challenges faced by minority emp...

how would you address challenges faced by minority employees

Models of human resource management, breifly describe the following models ...

breifly describe the following models of human resource management; 1the guest model of hrm 2the michigan matching model of hrm 2the harvard model of hrm 3the john storey model of

Gdp in income approach and expenditure approach, CALCULTE THE FOLOWINGN: ...

CALCULTE THE FOLOWINGN: 1) GDP in Income Approach  and Expenditure Approach 2) GNP 3) Net GNP 4) National Income 5) Personal Income 6) Disposable Income

Contributing factors for aspect of individual behaviour, What are the contr...

What are the contributing factors for specified aspect of individual behaviour? For any specified aspect of individual behaviour, here may be several contributing factors. The

Discuss the importance of job satisfaction in organisations, Question 1: ...

Question 1: (a) Define the concept of ‘organisation' and ‘organisational behavior' (b) Discuss the importance of job satisfaction in organisations. Question 2: (a) D

Management skills, Management skills: Q. A few organizations have rece...

Management skills: Q. A few organizations have recently tried to minimize employee use of email when communicating with colleagues. Specifically, these companies have banned t

Meaning of interpersonal behaviour, Problem 1 List the types of organis...

Problem 1 List the types of organisation structure? Mention the basic elements of Organization Structure. Explain any three elements. List the three types List the bas

Explain the term internal environment of an organisation, QUESTION Many...

QUESTION Many business people tend to forget the importance of the internal environment for the success of their organisation. They rather give more importance to the impact of

Write Your Message!

Captcha
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