Solution-Determine the sample size required

Determine the sample size required

Assignment Help Basic Statistics

Reference no: EM131044921

Again referring to the data in 'odometer' from AnzacG.xls and the population from which it is drawn, determine the sample size required to estimate the population mean to within 5,000 kms with 90% confidence. Again assume the population standard deviation is 60,000 kms.

Reference no: EM131044921

Questions Cloud

Following in making a rating recommendation : Credit analysts are likely to consider which of the following in making a rating recommendation? A. Business risk but not financial risk

Confidence interval for the proportion of women : In a random sample of 810 women employees, it is found that 81 would prefer working for a female boss. The width of the 90 percent confidence interval for the proportion of women who prefer a female boss is:

What is the groups contribution margin : Assume that a radiologist group practice has the following cost structure: Fixed Cost: $350,000 Variable Cost per Procedure: $12.50 Charge (revenue) per procedure: $85 Expected Volume: 7,000 procedure. Construct the group’s base case projected P&L st..

Decrease its collection period : Galambos Corporation had an average receivables collection period of 19 days in 2003. Galambos has stated that it wants to decrease its collection period in 2004 to match the industry average of 15 days.

Determine the sample size required : Again referring to the data in 'odometer' from AnzacG.xls and the population from which it is drawn, determine the sample size required to estimate the population mean to within 5,000 kms with 90% confidence. Again assume the population standard d..

Invest in mutual fund earning : John is 25 years old and wishes to retire in 30 years. His plan is to invest in a mutual fund earning a 12 percent annual return and have a $1 million retirement fund at age 55. How much must he invest at the end of each year to achieve this goal? Wi..

Compute the posterior mean and covariance for true function : Fit a cubic smooth spline to the relative change in spinal BMD, as a function of age. Use cross-validation to estimate the optimal amount of smoothing. Construct pointwise 90% confidence bands for the underlying function.

Small business owner visits her bank to ask for loan : A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $1,700 per month for the next three years and then $3,400 per month for two years after that. If the bank is charging customers 9.25 percent APR, ..

Projecting profit margins into the future : Projecting profit margins into the future on the basis of past results would be most reliable when the company:

User Account

All Pages

Determine the sample size required

Reference no: EM131044921

Reference no: EM131044921

Questions Cloud

Reviews

Write a Review

Basic Statistics Questions & Answers

Statistics-probability assignment

What is the least number

Determine the value of k

What is the probability

Binomial distributions

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

Generate descriptive statistics

Sampling variability and standard error

Estimate the population mean

Conduct a marketing experiment

Find out the probability

Linear programming models

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT