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Using the formula (provided below) for sample size determination, answer the following numerical questions.
n=z2XSD2/E2 ; Where SD= standard deviation of the sample observations; value of confidence interval (Z) at 95% level is 1.96.
A store manager for Barnes and Noble wants to run a study to determine how such a household pays per month on novels. The manager wants to obtain estimates within a 10% margin of error. Past research has shown that the average monthly spending on novels is $10 and has a standard deviation of $1. What sample size will the manager need for a reliable estimate with a 95% level of confidence.
You are given an annual time series with 40 consecutive values and asked to fit a fifth-order auto-regressive model.
In a random sample of 400 items, 88 are defective. If the null hypothesis is that 20% of the items in the population are defective, what is the value of ZSTAT?
Describe when a z-test should be performed as opposed to a t-test? Which (if any) can we use all the time? Why or why not?
(a) What is the 90% confidence interval estimate for the true mean monthly wages paid to farm workers? (b) What is the 99% confidence interval estimate for the true mean monthly wages paid to farm workers? (c) Compare and comment on the results of (a..
A machine that fills quart orange juice bottles is set to fill them with 32.1 oz. If the actual contents of the cartons vary normally, with a standard deviation of .1 oz, what percent of the cartons contain less than a quart (32 oz).
let x and y be independent exponential random variables with means 2 and 3 respectively. let zxy. determine
Do sit down restuarant franchises and fast food franchises differ significantly in stock price? Specifically, is the average stock price for sit-down restaurants different from the average stock price for fast food restaurants?
20 turn out to be over 65 inches tall, you get $20. Which is better: a sample of size 100 or a sample of size of 1,000? Choose one and explain. Does the law of average relate to the answer you give?
A random sample of 400 college students was selected and 120 of them had at least one motor vehicle accident in the previous two years.
Suppose that recently the hospital randomly sampled 10 patient bills and conducted a thorough study to determine whether an error exists. It found 3 bills with errors. Assuming that managers are correct that they have improved the error rate to 0...
Egyptians watch an average of 2.5 hours of television per person per day. If the standard deviation for the number of hours of television watched per day is 1.6 and a random sample of 225 Egyptians is selected, the mean of this sample belongs to a..
Marentette and El-Masri (2011) used logistic regression to identify predictors of obtaining seasonal influenza vaccination among hospital-based nurses in Canada. Their results are shown in table 1:
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