Estimate the total value of the inventory

Assignment Help Basic Statistics
Reference no: EM13114817

A random sample of 100 cards has a mean value of $2.55 and a standard deviation of .44. Constructa 95% confidence interval estimate of the mean value of the inventory. Suppose there was 2,500 cards in the inventory and how would the results be useful to the owner to estimate the total value of the inventory. What equation is best?

Reference no: EM13114817

Questions Cloud

Explain why is it important to study ethics in statistics : Why is it important to study ethics in statistics? Have you seen statistics misused? Without naming specific companies or people, can you provide examples?
Find out the final speeds of the two objects : Find out the final speeds of the two objects. What is the angle at which the object with mass 3m is scattered?
Calculate the enthalpy change : Calculate the enthalpy change for converting 10.00g of ice at -25.0°C to water at 70.0°C in kJ. The specific heats of ice, water, and steam are 2.09 J/g-K, 4.18 J/g-K, and 1.84 J/g-K,.
Describe the steps involved in the contraction process : Describe the steps involved in the contraction process. Include the neurotransmitters, cations, and proteins.
Estimate the total value of the inventory : Suppose there was 2,500 cards in the inventory and how would the results be useful to the owner to estimate the total value of the inventory. What equation is best?
Consider list of scientists that have awarded nobel price : Consider the list of scientists that have been awarded a Nobel Price for their work in immunology which one would you consider being the most important work and why?
How many grams of zn have been consumed : If 155mL of wet {grm{H}}_2 is collected over water at 24 ^circ {rm C} and a barometric pressure of 739torr , how many grams of {grm Zn} have been consumed.
Illustrate what is the absolute pressure at a point : Illustrate what is the absolute pressure at a point that is 9.82 cm below the ethyl alcohol-mercury interface?
Explain what do you think is the independent variable : Explain What do you think is the independent variable and why? Be specific. What dependent variables do you think might be important in the study? Name at least three.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

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

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

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