According to runzheimer international the average cost of a

Reference no: EM13382332

According to Runzheimer International, the average cost of a domestic trip for business travelers in the financial industry is $1,250. Suppose another travel industry research company takes a random sample of 51 business travelers in the financial industry and determines that the sample average cost of a domestic trip is $1,192, with a sample standard deviation of $279. Construct a 98% confidence interval for the population mean from these sample data. Assume that the data are normally distributed in the population. Now go back and examine the $1,250 figure published by Runzheimer International. Does it fall into the confidence interval computed from the sample data? What does it tell you?

Reference no: EM13382332

Questions Cloud

Suppose the counselor found the sum of squared deviations : suppose the counselor found the sum of squared deviations from the mean of the sample to be 135. given that he tested

In a gallop poll of 1005 randomly selected americans in : in a gallop poll of 1005 randomly selected americans in april 2006 482 responded yes to the question do you consider

A 2007 study reported in science magazine stated that : a 2007 study reported in science magazine stated that fifth-grade teachers scored a mean of 3.4 out of 7 points for

The statistical abstract of the united states reports that : the statistical abstract of the united states reports that the mean daily number of shares traded on the nyse in 2002

According to runzheimer international the average cost of a : according to runzheimer international the average cost of a domestic trip for business travelers in the financial

The real estate assessor for a county government wants to : the real estate assessor for a county government wants to study various characteristics of single family houses in the

There are a lot of symbols so i am sorry if this is hard to : there are a lot of symbols so i am sorry if this is hard to read.qtheta hat qthetasuppose eq1eq2q. vq1sigma12

An average of 5 cars arrive per hour at a restaurant assume : an average of 5 cars arrive per hour at a restaurant. assume that the number of cars arriving perhour follows poisson

A manufacturer of semiconductors has a 10 defect rate in : a manufacturer of semiconductors has a 10 defect rate in the semiconductors produced. every hour fifteen

User Account

All Pages