Estimate the total value of the inventory

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.

User Account

All Pages