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The following data represent the service charge for direct-deposit customers if a customer's account falls below the minimum required $1,500 balance for a sample of 26 banks.
12 8 5 5 6 6 10 10 9 7 10 7 75 0 10 6 9 12 0 5 10 8 5 5 9
a) Construct a 95% confidence interval for the population mean service charge if a customer's account falls below the $1,500 minimum
b) Explain in words what this confidence interval means.
The lifetime of a 2-volt non-rechargeable battery in constant use has a Normal distribution with a mean of 516 hours and a standard deviation of 20 hours. The proportion of batteries with lifetimes exceeding 520 hours is approximately.
Calculate the mean and standard deviation of the following data sets, then produce a five number summary and box plot of data.
What is the minimum sample size needed in order for you to be 95% confident that your estimate is within 5 of µ? Use the value 20 for the population standard deviation of scores on this subsection.
Determine equation in point-intercept form for line that goes through points (8,-1) and (4,3).
There are 500 employees in a firm, 45% are female. A sample of 60 employees is selected randomly. (a) Determine the standard error of the proportion.
Which statistical analysis technique should be used? What is the null hypothesis? Can an analysis be performed? Why or why not?
Given that P (A) = 0.7, P (B) = 0.5, and P (A B) = 0.8. Find the following probabilities:
You run a two tail t-test. The critical value for this test at the .05 level is a t of 7.82. What value must the obtained t-test statistic be in order to be considered significant at the .05 level?
He would like to estimate with .05 of the true proportion with a confidence level of 90%. What is the sample size needed?
Determine the sample size needed in order to be 99% confident that the sample proportion of the current customer accounts is within .03 of the true proportion of all current accounts for this company.
The following study was developed by Economist Simon Fass. Fass surveyed a sample population of low-income households in St. Martin. The variables analyzed were monthly income per adult and choice of rental contract for housing.
Determine a 90% confidence interval estimate of the mean head circumference of all two-month-old babies.
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