What is the point estimate for the mean amount, Basic Statistics

Assignment Help:

1. What size sample will be needed to construct a 95% confidence interval on a ballot issue if the estimate must be 2% of the actual percent. This issue looks very close in the election.

2. A sample of 800 voters revealed that 52% of them would vote for a specific issue. Create and interpret a 95% confidence interval for the support of the issue. In the interpretation indicate what type of statement you can make about the issue passing. What is the error of the estimate for this problem? How could you decrease the size of the interval?

3. A student is trying to determine how much money a student in her
school spends when buying lunch in the cafeteria. She randomly selects 16 students who buy their lunch and records the amount that they spend. The following lists the results:

3.25 4.50 2.95 4.25 5.25 4.80 4.10 3.95
3.75 2.80 4.87 5.10 4.68 4.75 4.55 4.60

a. Construct a 95% confidence interval for the average amount spent on lunch.
b. What is the point estimate for the mean amount spent on lunch at this school?
c. What is the margin of error?
d. The school cafeteria claims that the average amount is $3.70. What comment can you make about this claim?

4. Bride's Magazine reported that the mean cost of a wedding is $19,000 with a standard deviation of $9400. If Bride's magazine wishes to construct a 95% interval estimate of the true mean cost, what is the recommended sample size if the margin of error is $1000?

5. The state department of agriculture is trying to determine the average corn yield for farmers in the state. They take a sample of 40 farmers and determine that the average yield was 151.2 bushels per acre. If the population standard deviation is 12.3 bushels per acre, create a 90% confidence interval for the mean yield in the state this season.

What is the margin of error? Create a 99% confidence interval for the mean yield per acre.


Related Discussions:- What is the point estimate for the mean amount

Calculate the mean value and variance, 1. Generate 1000 samples for each of...

1. Generate 1000 samples for each of the following discrete random variables: (a). Binomial distribution with n=40, p=0.7, and distr. with n=50, p=0.5 (b). Geometric distribu

Central tendency, explain the graphical method of measure of central tenden...

explain the graphical method of measure of central tendency.

Tchebycheffs theorem, Tchebycheffs theorem As we all know standard deviati...

Tchebycheffs theorem As we all know standard deviation is a most widely used measure of variation. It has certain mathematical properties that facilitate development of statistica

Analyze data in statistical procedure , Study A                            ...

Study A                                      Study B                       Study C x 2 = 1.683                    F = 7.357                    r = .83 df = 4

Jovian moons more geologically active than rocky planet, Why are Jovian moo...

Why are Jovian moons more geologically active than small rocky planets? - Ices deform and melt at much lower temperatures than rock, allowing icy volcanism and tectonics at sur

conversion process from gaap to ifrs, When do you think the conversion pro...

When do you think the conversion process should start? Manager 1 : The conversion process from GAAP to IFRS will be a big challenge. There are a lot of differences between the

Sigma notation, Given the following pairs of random variables and comput...

Given the following pairs of random variables and compute the following sums. (NB: show your working table). 3 -7 2 10 6 11 10 12 15 14 (b) (c) (d) ?¦?2y

Determine the probability - probability example, 1. This question has multi...

1. This question has multiple parts. For a distribution of scores with = 82 and standard deviation = 2.5, find the following: (Don't forget to sketch the normal curve to help

Track Software, Seven years ago, after 15 years in public accounting, Stanl...

Seven years ago, after 15 years in public accounting, Stanley Booker, CPA, resigned his posiition as Manager of Cost Systems for Davis, Cohen, and O''''Brien Public Accountants and

Vital statistics, How vital statistics are affect on human life

How vital statistics are affect on human life

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