Assumptions of t distribution

Reference no: EM1315314

The American Sugar Producers Association wants to estimate the mean yearly sugar consumption. A sample of 16 people reveals the mean yearly consumption to be 60 pounds with a standard deviation of 20 pounds.

A. What is the value of the population mean? What is the best estimate of this value?

B. Explain why we need to use the t distribution. What assumption do you need to make?

Reference no: EM1315314

Questions Cloud

What will happen to the price of bonds also to money : Illustrate what will happen to the price of bonds also to money holding if the Fed changes the interest rate as a result of a decrease in the money supply.

How elastic or stretchable the string is : A superhero flies 272m from the top of a tall building at an angle of 32 below the horizontal. What is the vertical component of the superhero's displacement.

Compute the weighted cost of capital : Compute the weighted cost of capital that is appropriate to use in evaluating this expansion program

Two companies respond to the macroeconomic conditions : Explore in particular Elucidate how the two companies' respond to the macroeconomic conditions in terms of their.

Assumptions of t distribution : Explain why we need to use the t distribution. What assumption do you need to make?

Determining r-square : If you have multiple regression output with 2 independent variables and R-Square is .9682, what does R-Square indicate?

With what speed does it head toward the goal : The suspended 2.82 kg mass on the right is moving up, the 2.2 kg mass slides down the ramp, and the suspended 8.1 kg mass on the left is moving down. There is friction between block and ramp. What is the acceleration of a three block system.

Solve the given triangle : Solve the given triangle.

Free market features could be introduced to help : Elucidate how free market features could be introduced to help improve the problem. As your answer also include a discussion of the risks of introducing market mechanisms.

User Account

All Pages