Calculate the margin of error

Assignment Help Business Economics
Reference no: EM132124155

The mean distance commuters drove to work each day was estimated to be 40.8 miles from a sample of 45 commuters. The sample standard deviation was 5.8 miles. Assume that the distance commuters drive to work each day are normally distributed. Calculate the margin of error for a 95% confidence interval.

Reference no: EM132124155

Questions Cloud

Confidence interval for the percentage of all kindergartners : Construct and interpret a 90% confidence interval for the percentage of all kindergartners who say pancakes are their favorite breakfast food.
How are conference presentations professionally relevant : Effective clinical innovations and the dissemination of research findings are key elements in the growth and development of the psychology profession.
Lengths of all newly hatched iguanas : Assume that the lengths of all newly hatched iguanas are normally distributed.
What percentage of an organization efforts should be used : Beyond making a profit, what responsibilities do businesses have toward a society in general? How would you justify Starbucks decision to not save money.
Calculate the margin of error : Assume that the distance commuters drive to work each day are normally distributed. Calculate the margin of error for a 95% confidence interval.
Global organizational-transnational organization structure : How can HR ensure the success of firms with a global organizational structure and a transnational organization structure?
Write aspect regarding professional responsibility : Write down at least one specific aspect regarding Professional, Ethical, and Social Responsibility that you need to still develop.
Who are the most relevant stakeholders to consider : Who are the most relevant stakeholders to consider?
Most significant factual claims or disputes involved : What are the most significant factual claims or disputes involved?

Reviews

Write a Review

Business Economics Questions & Answers

  Explain how they travel a mean per month

A sample of 18 Jacksonville employees Explain how they travel a mean of 399 miles per month, with a sample standard deviation of 33 miles.

  About the prevailing rent for that land

If the output from a land source brings revenue of $400, transport costs of shipping this output to market are $55 and the land used in production is 4 acres, what will the rent for this land be? If you can’t solve this problem, state why it is not p..

  What must have been the rate of inflation

If your nominal income rose by 5.3 percent and the price level rose by 4.8 percent in some year, by what percentage would your real income (approximately) increase? If your nominal income rose by 2.8 percent and your real income rose by .9 percent in..

  What is a market failure

What is a market failure? It refers to a breakdown in a market economy because of widespread corruption in government.

  Illustrate what monthly profit would she realize

Illustrate what monthly profit would she realize with that level of business during the next 3 years.

  Labor costs have been increasing at an annual rate

Labor costs have been increasing at an annual rate of 10%. A firm wishes to set aside funds to cover labor costs for the next 5 years. Determine how much must be set aside today if the money will be invested and will earn interest at a rate of 10%. T..

  Tools of market supply and demand and cost analysis

Write a brief essay, analyzing the situation using the tools of market supply and demand and cost analysis that we have developed in this course, drawing graphs as needed to illustrate your analysis.

  Individuals to deduct the cost of health insurance premiums

The federal tax code allows businesses but not individuals to deduct the cost of health insurance premiums from their taxable income. Consider a company named HeadBook that could either spend $5,000 on an insurance policy for an employee named Vaness..

  Protect skin from sun-related damage

What is the best way to protect your skin from sun-related damage? What are the advantages and disadvantages to sunscreens containing common active ingredients

  Social welfare when de beers acts as perfect competitor

The total cost (TCZ) of the De Beers Company (a monopolist) is given by TCZ = 100 + 50QZ + 0.5Q2Z where QZ is the number of diamonds produced and put on the market by the De Beers Company. What is social welfare when De Beers acts as a perfect compet..

  Calculate the seller proceeds at settlement

A home is being sold for $168,250, and the settlement is scheduled for June 28. The earnest money deposit is $1,500 and a due diligence fee $125. The seller's loan payoff is $92,589.62. The broker commission is 5.5% of sales price. Calculate the sell..

  Understanding and predicting consumer behavior

Question 1:  Which of the following approaches to understanding and predicting consumer behavior depends primarily on the knowledge and experience of a firm's employees and its suppliers?

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