Reference no: EM132585894
QUESTION 1
Household weekly spending at Aldi data collected from 20 families in Sydney had the sample mean $160 with a population standard deviation of $16.
Calculate 95% confidence interval for μ.
Show your workings or provide Excel functions you have used for calculation.
Population standard deviation (σ) 16
Sample size (n) 20
Sample average (x-bar) 160
Confidence level (1-α) 0.95
Significant level (α) 0.05
QUESTION 2
Household weekly spending at Aldi data collected from 20 families in Sydney had the sample mean $160 with a sample standard deviation of $15.
Calculate 90% confidence interval for μ.
Show your workings or provide Excel functions you have used for calculation.
QUESTION 3
The Australian Energy Market Commission conducted survey about average cost of electricity for domestic households from 50 families had the sample mean $10 with a sample standard deviation of $2.
Calculate 95% confidence interval for μ.
Show your workings or provide Excel functions you have used for calculation.
Population Std.Dev (σ) Unknown
Sample size (n) 50
Sample mean (x_bar) 10
Confidence level (1-α) 0.95
significant level (α) 0.05
Sample standard deviation (s) 2
Path: p
QUESTION 4
A sample of monthly loan repayments is drawn from a population of NSW, which is known to have a standard deviation of $200. A recently taken simple random sample of 100 loans had an average of $1350.
Calculate 95% confidence interval for the population mean of monthly loan repayments. Show your workings or provide Excel functions you have used for calculation.
Confidence level (1-α) 0.95
significant level (a) 0.05
Sample standard deviation (s) 200
Population std.dev is unknown and n <30 => use t
Error bound 39.68434
Lower confidence Path: 1310.316
QUESTION 5
A recent survey in Sydney revealed that 70% customers at Aldi spend less than 150 dollars for weekly spending on groceries items. Suppose you randomly record the spending of 100 customers at Aldi.
Calculate 95% confidence interval for the population proportion.
Show your workings or provide Excel functions you have used for calculation.
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