Confidence interval for the average purchase

Assignment Help Basic Statistics
Reference no: EM132465249

1. For each of the following statements, indicate whether it is True/False. If false, explain why.

I. If the 95% confidence interval for the average purchase of customers at a department store is $50 to $110, then $100 is a plausible value for the population mean at this level of confidence.

II. If the 95% confidence interval for the number of moviegoers who purchase concessions is 30% to 45%, this means that fewer than half of all moviegoers purchase concessions.

III. The 95% Confidence-Interval for μ only applies if the sample data are nearly normally distributed.

2. For each of the following statements, indicate whether it is True/False. If false, explain why.

I. The sample size of the survey should at least be a fixed percentage of the population size in order to produce representative results.

II. The sampling frame is a list of every item that appears in a survey sample, including those that did not respond to questions.

III. Larger surveys convey a more accurate impression of the population than smaller surveys.

3. Which is shorter: a 95% z-interval or a 95% t-interval for μ if we know that σ =s?

A. The z-interval is shorter

B. The t-interval is shorter

C. Both are equal

D. We cannot say

Reference no: EM132465249

Questions Cloud

Are there any extreme values included in the time variable : Based on the descriptive statistics and histogram for the variable Time answer and explain the following questions:
Compute the amount that torres company received : Torres Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Torres Company received on March
Estimate the percentage of businesses that plan to hire : To prepare report on the economy, analysts need to estimate the percentage of businesses that plan to hire additional employees in the next 60 days.
At what psi will the tpms trigger a warning for this car : Tire pressure monitoring systems (TPMS) warn the driver when the tire pressure of the vehicle is 25% below the target pressure.
Confidence interval for the average purchase : For each of the following statements, indicate whether it is True/False. If false, explain why.
What effect does fair value accounting have on balance sheet : What effect does fair value accounting have on the balance sheet and income statement? Could you please make it clearly and easy to understand ?
Discussing what are the strengths and weaknesses of ABC : Discussing what are the strengths and weaknesses of ABC? When is it appropriate to use? Wha kinds of business situations suggest the need for ABC?
What are the weaknesses in the centers internal control : What are the weaknesses in the Center's internal control? Make recommendations for changing the accounting and reporting system.
Determine four constraints for designing internal controls : What constraints are encountered in designing internal control procedures for an organization such as the Sunshine Center? Determine four constraints

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

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