What does the standard error indicate

Assignment Help Basic Statistics

Reference no: EM131431875

Bootstrap distribution of the mpg standard deviation. Computers in some vehicles calculate various quantities related to performance. One of these is the fuel efficiency, or gas mileage, usually expressed as miles per gallon (mpg). For one vehicle equipped in this way, the mpg were recorded each time the gas tank was filled, and the computer was then reset. Here are the mpg values for a random sample of 20 of these records:

1820_Table 05.jpg

In addition to the average mpg, the driver is also interested in how much variability there is in the mpg.

(a) Calculate the sample standard deviation s for these mpg values.

(b) We have no formula for the standard error of s. Find the bootstrap standard error for s. Use 1000 resamples.

(c) What does the standard error indicate about how accurate the sample standard deviation is as an estimate of the population standard deviation?

(d) Would it be appropriate to give a bootstrap t interval for the population standard deviation? Why or why not?

Reference no: EM131431875

Questions Cloud

Do you agree with fasb that the direct method is preferred : What are the differences between the indirect and direct methods of preparing the statement of cash flows? Do you agree with the FASB that the direct method is preferred? Why, or why not?

Explain what the cash flow ratios indicate about the company : Demonstrate your calculations in your post, and explain what the cash flow ratios indicate about the company. Do not choose a company previously chosen by one of your classmates.

What are the advantages of the twenty-year mortgages : You must now choose between a 20-year mortgage and a 30-year mortgage. What are the advantages and disadvantages of the 30-year and the 20-year mortgages?

Determine the maximum capacity of the current production : MOD002610 Modelling & Simulation for Operations Management Assignment case study for Witness modelling and process improvement. Your task is to determine the maximum capacity of the current production line after the investment of the £250,000 hence..

What does the standard error indicate : What does the standard error indicate about how accurate the sample standard deviation is as an estimate of the population standard deviation?

Briefly discuss the types of ethical issues : Briefly discuss the types of ethical issues involved in computerized accounting information systems and how organizations can encourage their employees to act ethically.

What is the exact sampling distribution of the sample mean : Write a careful description comparing the three bootstrap distributions and also comparing them with the exact sampling distribution. What are the effects of increasing the sample size?

How non normality of population affect bootstrap : Explain what you have observed based on what you know about the sampling distribution of x‾ and the way in which bootstrap distributions mimic the sampling distribution.

What are the consequences faced by firms : What are the sustainable growth rates for your subject company over the period that you studied? What are the consequences faced by firms that grow at a rate that is not consistent with their sustainable rate?

User Account

All Pages