Sample data and confidence level

Assignment Help Basic Statistics
Reference no: EM131075209

Use the sample data and confidence level given below to complete parts (a) through (d). A research institute poll asked respondents if they felt vulnerable to identity theft. In the poll, n=970 and x=598 who said "yes." Use a 99% confidence level.

a) Find the best point estimate of the population proportion p.

b) Identify the value of the margin of error E.

c) Construct the confidence interval.

d) Write a statement that correctly interprets the confidence interval. Choose the correct answer below. A. One has 99% confidence that the interval from the lower bound to the upper bound actually does contain the true value of the population proportion. B.99% of sample proportions will fall between the lower bound and the upper bound. C. There is a 99% chance that the true value of the population proportion will fall between the lower bound and the upper bound. D. One has 99% confidence that the sample proportion is equal to the population proportion.

Reference no: EM131075209

Questions Cloud

Present equivalent worth of three years of net savings : Josh Ritchey has just been hired as a cost engineer by a large airlines company. Josh's first idea is to quit giving complimentary cocktails, wine, and beer to the international flying public. The net savings would amount to $12.5 million per year! J..
Child abuse prevention and treatment act : The goals of the _________ are to increase economic self-support and self-sufficiency, reduce abuse and neglect of children and adults, reduce inappropriate institutional care, and secure institutional care when needed. a. Social Services Block Grant..
Search the internet for a lm datasheet : Search the Internet for a LM741 datasheet. texas Instruments can be a good source. Answer the following questions:
Utility theory-indifferent between these two alternatives : At what value of p would you be indifferent between these two alternatives? Given your response to part a, would you be classified as risk averse, risk neutral, or risk seeking? Suppose that alternative 2 changed so that you would receive $1,000 with..
Sample data and confidence level : Use the sample data and confidence level given below to complete parts (a) through (d). A research institute poll asked respondents if they felt vulnerable to identity theft. In the poll, n=970 and x=598 who said "yes." Use a 99% confidence level.
The demand for seats at the NFL combine : Suppose the demand for seats at the NFL combine is given by Q=4000-10P. The marginal cost of an additional fan attending the combine is zero. Calculate the optimal number of tickets the NFL should sell to the event. Then indicate whether the NFL coul..
Suggest a pricing strategy that will increase your salary : The owner of a new health spa estimates the avg customer's monthly demand for visiting the spa as Q-50-.25P. The cost of operating is C(Q)=3Q, where Q is the # of visits. The owner has been charging a $20/month membership fee and a $5 per-visit fee. ..
Express the confidence interval : Express the confidence interval (0.062,0.140) in the form of Ep-E
What is the optimal pricing strategy for firm selling films : Suppose 2 television stations are offered 2 old Hollywood films: Casablanca and Son of Godzilla. The stations' willingness-to-pay for each is as follows: Station A WTP: Casablanca $8,000 Godzilla $2,500 Station B WTP: Casablanca $7,000 Godzilla $3000..

Reviews

Write a Review

Basic Statistics Questions & Answers

  What do you think of the discrimination claim

Based on the numbers presented, what do you think of the discrimination claim?

  Percent of internet users who download music

Using a significance test, evaluate whether or not there has been a change in the percent of Internet users who download music. Provide all details for the test. (Round your value for z to two decimal places. Round your P-value to four decimal pla..

  Construct a frequency histogram and interpret

(a) Make a frequency table displaying class intervals, frequencies, relative frequencies, and percentages. (b) Construct a frequency histogram and interpret.

  Find the test statistic value for t

At a = 0.05, what is the test value?

  How many nickels need to weigh to get average accurate

Confidence interval for the average weight of a nickel. How many nickels does he need to weigh to obtain an average accurate to within 10 milligrams?

  One tail-two tail t-test

Should you use a two tailed test versus the one tailed test? If the hypothesis is non-directional and you predict a difference between the means but do not specify which mean will be higher a two tailed test should be used.

  Find the number of viewers that represents 75%

Find the number of viewers that represents the 75th percentile and on one particular night, 24 million people watched 60 minutes. Is this unusual?

  Problem regarding the price of the netron share

A share trader has a policy of selling a share if its share price drops more than one-third of its purchase price. In January, the investor bought shares in Netron (an electronics company) for 90c per share. The table below shows the price of the ..

  What is meant by perfect multicollinearity

What is meant by perfect multicollinearity? What is its effect and what is meant by high, but not perfect, multicollinearity? What problems may result?

  The mean and the standard deviation of the sample of 100

the mean and the standard deviation of the sample of 100 bank customer waiting times in table 1.8 are xbar5.49 and

  Invest funds for the next year

As a cash manager of an MNC based in the United States that has extra dollars that can be invested for 1 year, where would you invest funds for the next year? Explain.

  Detailed description of -the mean deviation about for

Detailed description of -the mean deviation about for the numbers 4/11, 6/11, 8/11, 9/11, 12/11. 8/11 is and 2nd question is the mean and SD for a,b and 2 are 3 and 2/sqrt3 respectively. The value of ab would be?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd