Estimate for the true daily weight gain

Assignment Help Econometrics

Reference no: EM13183426

1. Agri-Beef Inc. operates cattle feed lots in several midwestern states. The company wishes to estimate the average daily weight gain
of cattle on their lots. To do this a simple random sample of cattle is taken and the daily weight gain is recorded. The data below, in pounds, represent the results of the sample.

8.7

6.1

9.8

6.5

8.3

6.3

5.8

8.0

8.7

5.1

7.0

6.0

7.9

6.1

a. Construct a 95% confidence interval estimate for the true daily weight gain.
b. Construct a 99% confidence interval estimate for the true daily weight gain.
c. Discuss the differences between the two estimates found in parts a and b and indicate the advantages and disadvantages of each.

2. A survey of 400 women for the American Orthopedic Foot and Ancle Society revealed that 38% wear flats to work.

a. Use this sample information to develop a 99% confidence interval for the population proportion of women who wear flats to work.

b. Suppose the society wished to estimate the proportion of women who wear athletic shoes to work and the proportion of women who wear flats to work within a margin of error of 0.01 (one percentage point) with 95% confidence. Determine the sample size required.

Reference no: EM13183426

Questions Cloud

Compute december sales and cost of goods sold : It was discovered that the insurance policy was renewed on December 1st; coverage will cost $6,720 for the next 12 months. Prepare the necessary entries.

How many firms will be operating in the equilibrium : How much is the long-run equilibrium price? How many firms will be operating in this equilibrium? Plot two side-by-side graphs to illustrate the long-run equilibrium; one should show a typical firm in equilibiurm, the other should show the market..

What is the average variable cost-avc as a function : John's Lawn Mowing Service is a small business that acts as a price taker. John's short-run total cost is given by STC = 0.1q2 + 10q + 50, where q is the number of acres John chooses to cut a day. Total fixed cost is TFC = 50 and total variable co..

State what is defined as the number of atoms surrounding : What is defined as the number of atoms surrounding an atom in a crystal lattice and indicate how tightly the atoms

Estimate for the true daily weight gain : Agri-Beef Inc. operates cattle feed lots in several midwestern states. The company wishes to estimate the average daily weight gain of cattle on their lots. To do this a simple random sample of cattle is taken and the daily weight gain is recorde..

Explain the amount of nitrogen in an organic substance : The amount of nitrogen in an organic substance can be determined by an analytical method, called the Kjeldahl method, in which all the nitrogen in the organic substance is converted to ammoinia.

Complete and balance the molecular equation : Complete and balance the molecular equation, including phases, for the reaction of aqueous copper(II) chloride, CuCl2, and aqueous potassium phosphate, K3PO4.

Compute the following for the fiscal years ending : Write a statement that describes your conclusion(s) concerning rends in Home Depot's profitability during the period covered in your analysis in part a above2009

Define hexagonal closed-packed structure : An interstitial alloy prepared from two metals. metal A with the larger atomic radius has a hexagonal closed-packed structure. What if the formula(for example:A2B,AB,AB2)of the alloy if atoms of metal B occupy the following?

User Account

All Pages