Determining suitable distribution and critical value

Reference no: EM1317275

Q1) Suppose you require building confidence interval for population mean within some given situation. Naturally, you should find out whether you must use either t-distribution or z-distribution or possibly even neither based upon information known/gathered in the situation. Therefore, based upon given information for each situation below, find out which (t-, z- or neither) distribution is suitable Then if you can utilize either a t- or z- distribution, provide associated critical value (critical t- or z- score) from that distribution to reach given confidence level.

a) 95% confidence n=52 sigma unknown population data believed to be normally distributed.

b) 90% confidence n=7 sigma unknown population data believed to be very skewed.

c) 95% confidence n=85 sigma unknown population data believed to be skewed right.

d) 99% confidence n=15 sigma unknown population data believed to be normally distributed.

Reference no: EM1317275

Questions Cloud

Revealing sample information : A study regarding the relationship between age and the amount of pressure sales personnel feel in relation to their jobs revealed the following sample information.

Covered interest rate arbitrage and purchasing power parity : Explain how banks and individuals can use "covered interest arbitrage" to protect themselves when they make international financial investments.

Periodicity in the ionization energy : Periodicity in the ionization energy and balancing the equation - Complete the following chemical reactions by writing the product(s) and balancing the equations:

Critical article review : Critical Article Review, omment on the strengths and weaknesses of the paper. Did the authors acknowledge limitations to their work? Was the analytic horizon appropriate? Did their approach bias their results?

Determining suitable distribution and critical value : Find out which (t-, z- or neither) distribution is suitable Then if you can utilize either a t- or z- distribution, provide associated critical value (critical t- or z- score) from that distribution to reach given confidence level.

Investment decision in german : Explain why the Fed must normally add reserves to the banking system via open market operations, on most days, in order to maintain its interest rate target in the federal funds market.

In-house development of software : Discuss the innovative and creative ways in order to use patient ID bracelet consisting of a bar-code representation of patient's ID.

Estimate the thickness of the lipid bilayer : Estimate the thickness of the lipid bilayer in a biological membrane - Estimating the thickness of a membrane by using bond distance.

Mean number and median number : Compute the mean number and median number of apples in a bag.

User Account

All Pages