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1. A sample survey of 54 discount brokers showed that the mean price charged for a trade of 100 shares at $50 per share was $33.77 (AAII Journal, February 2006). The survey is conducted annually. With the historical data available, assume a known population standard deviation of $15.
a. Using the sample data, what is the margin of error associated with a 95% confidence interval?b. Develop a 95% confidence interval for the mean price charged by discount brokers for a trade of 100 shares at $50 per share.
2. A survey conducted by the American Automobile Association showed that a family of four spends an average of $215.60 per day while on vacation. Suppose a sample of 64 families of four vacationing at Niagara Falls resulted in a sample mean of $252.45 per day and a sample standard deviation of $74.50.
a. Develop a 95% confidence interval estimate of the mean amount spent per day by a family of four visiting Niagara Falls.b. Based on the confidence interval from part (a), does it appear that the population mean amount spent per day by families visiting Niagara Falls differs from the mean reported by the American Automobile Association? Explain.
According to the hypothesis that the current year's seed does not meet the 85% germination rate standard at the 5% level of significance. What is the corresponding test statistic value?
A log-normal distribution results (which gets its name from the fact that if the logarithm is taken, the distribution becomes normal). But why is that plausible?
Construct a 90% confidence interval for the mean percentage of hotel reservations being cancelled on the day of the booked stay that falls between 1.1%-3.4%.
Does the confidence interval contain the value of 35 mm, which is believed to be the standard deviation of sitting heights of women?
Draw a sketch of the standard normal distribution curves, one for the current process and another one for the recentered process. Label the spec limits and shade the area of the curve that corresponds to your answer.
Calculate the test statistic. Determine the p-value of the test-statistic.
the probability is 1 in 4 million that a single auto trip in the US will result in a fatality. Over a lifetime, an average driver takes 50,000 trips. What is the probabiltiy of a fatal accident over a lifetime. Explain.
Last school year, student body of a local university consisted of 30% freshmen, 24% sophomores, 26% juniors, and 20% seniors. A sample of 300 students taken from this year's student body showed the following number of students in each classificati..
This assignment involves displaying an understanding of an independent t-test. Based on my hypothetical research question: What do early childhood educators report about their experiences with fathers' involvement in their programs?
His estimated regression equation was Crime = 428 + .050 Income. Which outcomes would be likely in a bivariate regression on 45 randomly chosen U.S. cities in 2005 with
Can the company conclude that the mean kilo of product treated in one hour by this machine is more than 15,000? Use a 5% level of significance.
In the order of operations Pemdas requires that exponentation takes precedence over multiplication, so we cannot multiply 4*2 without first evaluating 2^x, but we could divide both sides by 4.
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