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Every statement about a confidence interval contains two parts: the level of confidence and the interval. Suppose that an insurance agent estimating the mean loss claimed by clients after home burglaries created the 95% confidence interval ($1644,$2391).
a) What is the margin of error for this estimate?
b) Carefully explain what the interval means.
c) Carefully explain what the 95% confidence level means.
question the associated press reports that the mean trading volume for equity and index options contracts was 3.6
Construct a 90 percent confidence interval for the true mean weight. (b) What sample size would be necessary to estimate the true weight with an error of 0.02 grams with 90 percent confidence?
Farley purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month. Accounts payable is used only for inventory acquisitions. How much cash will Farley receive during November?
A random sample of 80 voters found that 44% were going to vote for a certain candidate. Find the 90% limit for the population proportion of voters who will vote for that candidate?
Assume that a set of test scores is normally distributed with a mean of 100 and a standard deviation of 20. Use the 68-95-99.7 rule to find the following quantities.
System data for a job shop revealed that the average time spent by a job in the shop was approximately n = 5 working days. Construct a statistical test using a level of significance of alpha = 0.05
1.suppose we toss a penny and a nickel. let a be the event that the penny is a head and b be the event that the nickel
Agency wants to select samples from 10 landfills. The director has 15 landfills from which she can collect samples. how many different samples are possible?
P(A 1 )= .20, P(A 2 ), and P(A 3 )= .40. P(B 1 I A 1 ) = .25. P(B 1 I A 2 ) = .05. P(B 1 I A 3 )=.10. Use Bayes' theorem to determine P(A 3 I B 1 )
Random sample of 250 americans is selected, the mean of this sample belongs to a sampling distribution. What is the shape of this sampling distribution?
Determine the range of values containing 50% of the population of x. From a large sampling (N>5000), we find that x has a mean value of 5.2 units and a standard deviation of 1.0 units.
question a researcher conducted and experiment on the effects of a new drug on depression. the researcher had a
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