Confidence interval estimate of the annual subsidy

Assignment Help Basic Statistics

Reference no: EM13823771

1. A congressional committee wishes to estimate the average annual subsidy received by tenant farmers in a southern state. A random sample of 495 farms is taken, the sample mean is found to be $7,850 with a sample standard deviation of $750. Compute the 99% confidence interval estimate of the annual subsidy?

2. Business statistics students claim that they spend at least 3 hours studying for and working through statistics practice problems per week. A random sample of 44 college students enrolled in a business statistics course was asked how many hours he or she spent practicing working statistics problems. The sample average was found to be 2.4 hours per week with a standard deviation of 1.25 hours. Using the p-value method and α = .01, determine if the students are studying the amount of time that was claimed.

3. You are the manager of a restaurant that delivers pizza to college dormitory rooms. You have just changed your delivery process to a method that you think will reduce the mean time, from the order to the completion of the delivery, down from the current 25 minute delivery time. A sample of 36 orders using the new delivery process yields a sample mean of 22.4 minutes and a standard deviation of 6 minutes. Can you conclude that the new delivery process has reduced the population mean delivery time? Use the p-value method and a significance level of 2.5% to answer this question.

4. A survey is planned to determine the mean annual family medical expenses of employees of a large company. The management of the company wishes to be 90% confident that the sample mean is correct to within $50 of the population mean annual family medical expenses. A previous study indicates that the standard deviation is approximately $400. How large of a sample size is needed?

5. Two hundred people are randomly chosen at a shopping mall to taste-test a new brand of fruit drink. They are asked to rate the drink on a scale from 1 to 5, with 5 being very good and 1 being very bad. The results of the survey reveal that the sample average rating is 3.63 with a standard deviation of 1.22. Compute the 90% confidence interval estimate of the mean drink rating?

Reference no: EM13823771

Questions Cloud

Explore the role of culture and the resultant cultural issue : Explore the role of culture and the resultant cultural issues

Determine the ph of the solution : Determine the pH of the solution resulting when 100cm^3 of 0.50mol dm^-3 hydrochloric acid is mixed with 200cm^3 of 0.1mol dm^-3 NaOH

Harvard referencing interactive tutorial : Harvard Referencing Interactive Tutorial

Delinquency listed below:o routine activities theory : Write a 500- to 750-word paper in APA format explaining why some adolescents are motivated to commit crimes while others in similar circumstances are not. Support your explanation by applying at least two of the individual theories of delinquency lis..

Confidence interval estimate of the annual subsidy : A congressional committee wishes to estimate the average annual subsidy received by tenant farmers in a southern state. A random sample of 495 farms is taken, the sample mean is found to be $7,850 with a sample standard deviation of $750. Compute ..

The best method of controlling juvenile crime : Write a 300- to 350-word response explaining how the threat of punishment either does or does not deter juvenile delinquency. Provide examples of general deterrence, specific deterrence, and situational crime prevention strategies. Additionally, iden..

Rough draft of argumentative research essay : Rough Draft of Argumentative Research Essay

Research the internet to find federal : Research the Internet to find federal, state, or local programs with elements that exemplify the application of each of the sociological theories listed below:o Social structure theorieso Social process theorieso Social conflict theories.

How data quality is improved by the use of terminologies : How data quality is improved by the use of standardized terminologies? How data quality requirements may be included in organizational policies or processes?

User Account

All Pages