Determining point estimate of population mean

Reference no: EM1315723

Q1) Wind damage repairs in particular place averaged $10,900 for 70 homes. Population standard deviation was known to be= $2,300.

a) Determine point estimate of population mean?

b) By using 90% confidence, determine the margin of error?

c: using 99% confidence, what is the margin of error?

Q2) In survey of 750 senior business executives by Business Week Magazine, 55% pointed out that they felt that even if merit and abilities are equal, people with MBAs frequently got promoted faster than people without degree. Create a 92% confidence interval estimate for population proportion. 92% CI ________to________.

Q3) With population standard deviation 6,a 90% confidence interval for population mean was 103 to 107. Find out sample size.

Reference no: EM1315723

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