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Finite populations allow you to use the confidence interval for a population mean μ to produce a confidence interval of the population total. To estimate the population total, multiply the lower and upper confidence limits of the estimate of μ by the population size N. So the confidence interval estimator of the total is (N*{x - tα/2s/sqrt(n)}, N*{x + tα/2s/sqrt(n)}) Pepsi wants to use this technique to determine if they should bid for an exclusivity agreement with NCSU. Such an agreement would bind NCSU to sell Pepsi soft drink products exclusively on campus. To determine if an exclusivity agreement would be profitable, Pepsi must estimate the total number of 12 ounce cans (or their equivalent) that NCSU students would buy per week. NCSU's Office of Registration and Records informs Pepsi that N = 28,000 different students are on campus at least once during a typical week. Pepsi randomly samples 500 NCSU students and asks them to record the number of 12 ounce cans of soda (or their equivalent) that they purchase on campus over the next 7 days. The results are in this Excel file cans of soda per week. Question. Use the data in the file to calculate a 95% confidence interval for the total number of 12 ounce cans of soda that NCSU students will purchase on campus in a week. lower limit of 95% confidence interval upper limit of 95% confidence interval.
Given the following frequency distribution, find the mean, variance, and standard deviation. Please show all of your work so I can see how to do this for the future. This one is good example of what I can do in future for real estate.
If 300 stolen cars are randomly selected, what is the mean and standard deviation of the number of cars recovered after being stolen?
Suppose that the population follows the normal distribution. Forty trucks are randomly selected and weighed. Within what limits will 95 percent of the sample means occur?
What are the assumptions underlying a normal distribution? What are the assumptions underlying a binomial distribution? Why do we want to assume that our sample data represent a population distribution?
Describe the kinds of statistical software that are available to healthcare professionals.
In a recent national survey, the mean weekly allowance for a nine-year-old child from his/her parents was reported to be $3.65. A random sample of 45 nine-year-olds in northwestern Ohio revealed the mean allowance to be $3.69 with a standard devia..
An industrial engineer at Lyons Products would like to determine whether there are more units produced on the afternoon shift than on the morning shift.
A statistician wants to estimate the mean weekly family expenditure on clothes. He believes that the standard deviation of the weekly expenditure is $125.
Explain this result (including the underlying logic of the computations) to a person who understands hypothesis testing involving a single sample and a known population, but knows nothing about t tests.
A machine cuts circular filters from large rolls of material. If 7.3% of the filters fail to meet specifications, use the normal approximation to the binomial to compute the probability that a sample of 100 of the filters will contain 5 or fewer that..
Later, we"ll discuss a method called "backward" elimination for determining which variables to include in your final model. What about the coefficients?
Standard deviations differ, and speculate on the possible meaning of these differences, presuming that they are representative of U.S. governors and large corporations' CEOs in general.
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