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A marketing research firm wishes to estimate the proportion of adults who are planning to buy a new car in the next 6 months. A simple random sample of 100 adults led to 22 who were planning to buy a new car in the next 6 months.
a. Compute the 95% confidence interval for the proportion of adults who are planning to buy a new car in the next 6 months.
b. Interpret this confidence interval.
c. How large a sample size will need to be selected if we wish to have a 95% confidence interval that is accurate to within 1%.
I'm trying to determine what happens to the sample size if the level of confidence is reduced from 95% to 90% but the allowable error and the standard deviation remain
In a bumper test, three types of autos were deliberately crashed into a barrier at 5 mph, and the resulting damage (in dollars) was estimated. Five test vehicles of each type were crashed, with the results shown below. Research question: Are the ..
What is the probability there will be between 10 and 14 calls inclusive arriving at the company in the next 15 minutes?
The article can be on Descriptive Statistics, Probability and the Normal Distribution, Sampling and Sampling Distributions, Regression Analysis, or Time Series Forecasting.
Confirm that these statements are accurate by finding the geometric mean rate of increase.
Determine whether the sampling method is independent or dependent for the following example. A researcher wants to know whether the newly issued "state" quarters have a mean weight that is different from "traditional" quarters.
What would be your best point estimate for average Sales in weeks for which Newspaper advertising were $1 million? What would be an appropriate interval estimate for this?
Suppose that an IQ test was given to a large group of persons, the scores are assumed to be from a normally distributed population, that mean = 100 and s (standard deviation) = 15.
Last school year, student body of a local university consisted of 30% freshmen, 24% sophomores, 26% juniors, and 20% seniors. A sample of 300 students taken from this year's student body showed the following number of students in each classificati..
We want to estimate the population mean within 5, with a 99% confidence level. The population std dev is estimated to be 15. How large is the required sample size?
Based on the information, what decision should the director make about the books used for the courses if the goal is to keep the cost below $300?
Blood type AB is found in only 3% of the population. If 320 people are chosen at random, find the probability of the following. (Round your answers to four decimal places.)
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