Reference no: EM131354753
Discussion - Interpreting Confidence Intervals
This discussion surrounds an example of how one industry used statistics to make important analytics decisions about how it best served its customers:
In the 1960s, data were collected on the weights of people to determine the safe passenger capacity of aircraft. Using a random sample the mean weight was found to be 166.3 lbs.
In recent decades, the mean weight of the population has increased considerably, so we need to update our estimate of that mean.
Recently, a simple random sample of the weights of n = 40 people was collected and found to have a mean of = 172.55 lb.
How could these data be used to impact airline passengers' experiences? Consider areas such as ticket purchasing, cost, safety, customer service, or any other area that may come to mind.
Comment on your classmates posts by discussing the similarities and differences among your postings.
|
What is the highest daily fee the company
: Purple Feet Wine receives an average of $218,400 in checks per day. The delay in clearing is typically 2.6 days. The current interest rate is .0085 percent per day. Assume each month has 30 days. What is the highest daily fee the company should be wi..
|
|
What is the marginal propensity
: Discuss how the Multiplier leads to closing the gap between equilibrium and full employment - Challenge question: Discuss why the tax multiplier is different. When would this multiplier be used?
|
|
Statements about the bundling risks into portfolios
: Which of the following statements about the bundling risks into portfolios is not correct? Travel Inn Express spends $149,000 a week to pay bills and maintains a lower cash balance limit of $175,000. The standard deviation of the disbursements is $14..
|
|
What can be done to assist leaders who seem helpless
: What critical issues need to be resolved before an organization can move forward in a change effort?- What key guiding teams should be mobilized to drive the other teams?
|
|
How could data be use to impact airline passenger experience
: How could these data be used to impact airline passengers' experiences? Consider areas such as ticket purchasing, cost, safety, customer service, or any other area that may come to mind.
|
|
Derive the least-squares estimators
: Compare these estimators in terms of the optimal properties, unbiasedness, full efficiency and consistency.
|
|
Statements about diversification
: If a bond's yield to maturity is larger than the bond's coupon rate, then the bond’s price… Which of the following statements about diversification is incorrect?
|
|
Over what range of production is each location optimal
: The fixed and variable costs for three potential manufacturing plant sites for a rattan chair weaver are shown: Over what range of production is each location optimal
|
|
Which is a characteristic of brainstem death
: In Parkinson disease (PD), the basal ganglia influences the hypothalamic function to produce which grouping of clinical manifestations? Which is a characteristic of brainstem death?With receptive dysphasia (fluent), the individual is able to respon..
|