Difference in average operating time for the two samples

Assignment Help Business Economics
Reference no: EM13732467

You are assessing the difference in the average time that two new fully-charged solar batteries can produce electricity before they need to be again exposed to the sun. Using a sample of 50 Type 1 batteries and 50 Type 2 batteries, you build a 90% confidence interval estimate of the difference in average operating times for the two batteries and the interval turns out to be 16 plus or minus 3 hours. How should you interpret the interval?

A. We can be 90% confident that the interval 13 to 19 hours will contain the difference in average operating time for the two samples.

B. We can be 90% confident that the difference in average operating time for the two populations represented here will be 3 hours.

C. We can be 90% confident that the interval 16 plus or minus 3 hours will contain the difference in average operating time for the two populations represented here.

D. 90% of the operating times will be between 13 and 19 hours.

Reference no: EM13732467

Questions Cloud

What would happen to the prices of goods and services : Suppose the US dollar depreciates against other currencies. Under the linked exchange rate system, Hong Kong pegs its nominal exchange rate to the US dollar. What would happen to the prices of goods and services (in terms of US dollars)in Hong Kong i..
How were women beginning to see themselves : how were women beginning to see themselves? what king of behavior was expected with this kind of dress? how does this style translate in today's fashion?
When computing the p-value for a two-tailed hypothesis test : When computing the p-value for a two-tailed hypothesis test, we need to
Values of the deposit multiplier and the money multiplier : Economists believe that the current values of the deposit multiplier and the money multiplier are widely divergent. Why might these values differ at present? What (if anything) do you think must happen for them to converge once again?
Difference in average operating time for the two samples : You are assessing the difference in the average time that two new fully-charged solar batteries can produce electricity before they need to be again exposed to the sun. Using a sample of 50 Type 1 batteries and 50 Type 2 batteries, you build a 90% co..
Discuss aspects of the cultural differences : General Industries, Inc. is a large U.S. conglomerate with operations around the globe, including Australia, Germany, China, and the U.S. Their product lines include industrial chemicals, construction machines, and food/beverages. Growth has occur..
How you used deductive reasoning : At the end of the paper, identify one example of how you used deductive reasoning and one example of how you used inductive reasoning
What limitations of enlightened absolutism in central europe : The best opportunities for improving society". What do you think were the main three limitations of enlightened absolutism in Central Europe?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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