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Find 95 percent confidence interval for population mean:
A college student is doing some research on the cost of one-bedroom apartments in town. He has randomly selected 25 apartments for which the price was published. The average price for these apartments is = $652. He will assume that price follows roughly a normal distribution. Based on prices from previous years, a real estate agent gives him the information that σ is approximately $55. A 95% confidence interval for µ is found to be 652 ± 21.56 = ($630.44, $673.56). Determine which of the following statements is true.
A) A test of the hypotheses H0: µ0 = 650 vs. Ha: µ1 < 650 would be rejected at the 0.05 level.
B) A test of the hypotheses H0: µ0 = 650 vs. Ha: µ1 > 650 would be rejected at the 0.05 level.
C) A test of the hypotheses H0: µ0 = 675 vs. Ha: µ1 ≠ 675 would be rejected at the 0.05 level.
D) All the above.
A company has developed the new battery, but the average lifetime is unknown. In order to estimate the average, a sample of 150 batteries is tested and an average lifetime of this sample is found to be 250 hours.
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To estimate the mean of the population from sample information, we need to calculate the standard deviation of the distribution of the sample means around the population mean.
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Assuming no discrimination based on gender, what is the probability of getting 41 or fewer women when 100 new employees are hired?
Determine fraction of employees cost between $1,500 and $2,000 per year?
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