Confidence interval for the mean difference in leisure

Assignment Help Business Economics
Reference no: EM131943705

A random sample of 40 adults with no children under the age of 18 years results in a mean daily leisure time of 5.49 ?hours, with a standard deviation of 2.47 hours. A random sample of 40 adults with children under the age of 18 results in a mean daily leisure time of 4.35 ?hours, with a standard deviation of 1.58 hours. Construct and interpret a 90?% confidence interval for the mean difference in leisure time between adults with no children and adults with children left parenthesis mu 1 minus mu 2 right parenthesis.

Let mu 1 represent the mean leisure hours of adults with no children under the age of 18 and mu 2 represent the mean leisure hours of adults with children under the age of 18.The 90?% confidence interval for left parenthesis mu 1 - mu 2 right parenthesis is the range from (  ) hours to (  ) hours.

Reference no: EM131943705

Questions Cloud

Describe the types of substance abuse assessments : Describe the three selected types of substance abuse assessments that you might use. Be sure that your choices represent three different age populations.
Liquefied petroleum gas for cooking and lighting : Many farming households in the developing world use traditional biomass, kerosene and liquefied petroleum gas (LPG) for cooking and lighting.
What safety subteam would you recommend for current employer : What safety subteams would you recommend for your current (or most recent) employer? How could they benefit the organization?
Developing a time line of your life : Most people naturally divide the life cycle into separate periods of time, or stages, during which they expect certain events to occur.
Confidence interval for the mean difference in leisure : Construct and interpret a 90?% confidence interval for the mean difference in leisure time between adults with no children and adults with children
Produce Use Case Overview Diagram for iMega system : Continuing on the requirements engineering activities for iMega system. Your task is to produce: Use Case Overview Diagram and Domain Model
Discuss about the multiculturalism and diversity : It also presents new or expanded guidelines for preventing the imposition of counselor's personal values, distance counseling, confidentiality.
Purpose of the population regression model : Question: What is the "Purpose of the population Regression Model"? Please explain
What is the company pretax cost of debt : What is the company's pretax cost of debt? If the tax rate is 34 percent, what is the aftertax cost of debt?

Reviews

Write a Review

Business Economics Questions & Answers

  The constant price elasticity of demand

The constant price elasticity of demand for cigarettes has been estimated to be -0.5. To reduce smoking by 50%, approximately how much tax needs to be added to a $1 pack?

  Why business managers should know economics

Americans pay $30 billion a year I health care costs associated with smoking? How would those expenditures affect GDP? Why business managers should know economics? Explain giving reasons? Does foreign direct investment help to poor countries?

  Supply and demand to address a predetermined goal

Use the principles of supply and demand to address a predetermined goal (set by you) in the gasoline market. Be clear on what the current market indicates and why and what your future goal is. We will probably revisit some of your choices in future m..

  Raising interest rates was the prospect of refinancing issue

One reason for raising interest rates was the prospect of a refinancing issue: a $12 billion issue matures April 1, and the government is expected to seek some new money, in excess of its refinancing needs.

  Draw a diagram to illustrate the state of economy

Draw a diagram to illustrate the state of the economy. Be sure to show aggregate demand, short-run aggregate supply, and long-run aggregate supply.

  Explain what is the inflation tax

“The money supply of an economy increases when the central bank simultaneously decreases the reserve requirement and sells government bonds in open market.” Explain whether this statement is true, false or uncertain. Explain what is the inflation tax..

  Most demand curves are downward sloping

One point made is that most demand curves are downward sloping. Can you think of any situation where an individual's demand curve for a product is upward sloping.

  Complete her income-tax return

Allison is trying to complete her income-tax return. A number of questions have come up about life insurance. Explain the tax treatment of each of the following. Allison is the beneficiary named in her grandfather’s life insurance policy. Allison’s o..

  What is the accounting value of country a

What is the accounting value of Country A's Net International Investment Position at the beginning of 2015?

  Draw the average cost-average variable cost-marginal cost

Suppose that hospital A’s output is measured by numbers of admissions and the market price for hospital admissions is regulated by the government. Assume that the regulated market price for an admission is $1500. Hospital A has no fixed costs, and th..

  What is the nominal gdp

What is the nominal GDP in 2011? What is the real GDP in 2011 (using 2010 prices)?

  Qan entrepreneur wants to undertake a project which

q.an entrepreneur wants to undertake a project which generates future revenue of 34 or 9 and requires an initial cost

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