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Would you be able to baby step walk me through the formulas needed to solve this problem? ie; step 1, step 2, etc. Maybe you could use a similar problem to this one so I can at least understand the process I need to do to get this answer? This book I have does not simplify and step through the method for solving this in a way that I can understand. I have other similar questions, and if I understand this one I might be able to do the rest.
SAT Scores and the Central Limit Theorem. Assume that SAT scores are normally distributed with a mean of 500 and a standard deviation of 100. Suppose that many samples of size n are taken from a large population of students and the mean SAT score is computer for each sample. Find the mean and standard deviation of the resulting distribution of sample means for n = 100 and for n = 400. Briefly explain why the standard deviation is different for the two values of n.
Formulate an appropriate hypothesis test to examine at the 10% level of significance whether the manager's worries are justified.
Identify the sampling distribution to be used: the standard normal distribution or the Student's t distribution. Find the critical value(s).
The average cost per night of a hotel room in New York City is $273 (SmartMoney, March 2009). Assume this estimate is based on a sample of 45 hotels and that the sample standard deviation is $65.
The annual returns, in percentages, on stocks A and B for three possible states of the economy are given in the table below.
What is the proportion of people surveyed that rated the subway system from 3 to 4. What is the proportion of people surveyed rated the Subway System from 1 to 3.
Find the mean, median, mode, and midrange for these data.
Using the 0.10 level of significance, is there evidence that the mean shopping time at the local supermarket is greater than the claimed value of 22 minutes?
Recognize the kind of sampling (random, systematic, convenience, stratified, cluster) employed whenever a sample of people who smoke is obtained as explained below.
What is the difference between a sample and a population? When can the same information (e.g. the age of each of the ten students in our class) be considered both sample data and population data?
Calculate the sample mean and sample standard deviation.
In the following example, why would Chebyshev's Theorem be used instead of the Empirical Rule?
Construct a 95% confidence interval for the proportion of all those who experience some type of discomfort.
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