What is probability of finding the mean of a daily sample

Assignment Help Econometrics
Reference no: EM13199356

A truck manufacturer monitors the width of the door seam as vehicles come off its assembly line. the seam width is the distance between the edge of the door and the truck body, in inches. these data are 62 days of measurements of a passenger door seam, with 10 trucks measured each day. it has been claimed that the process has an average width of 0.275 inches with sigma =.01.

A) if the seam widths at this assembly line are normally distributed, then what is the probability of finding a seam wider than 1/2 inch.

B) if the process is under control, what is the probability of finding the mean of a daily sample of 10 widths more than 3 standard errors away from the population average of 0.275?

Reference no: EM13199356

Questions Cloud

What is the value of the property : What would the value of the property be and by what percentage has this value changed as a result of this 100-basis-point change in the required return?
Compute the depletion allowances for years 4 : American Pulp Corp. (APC) has entered into a contract to harvest timber for $450,000. The total estimated available harvest is 150 million board-feet. What is the depletion allowance for years 1 to 3 if 42, 45, and 35 million board-feet are harvest..
What is the deadweight loss due to subsidy : At what prices do U.S. producers sell their cars before and after subsidy is offered. What prices do U.S. consumers feel liked are paying before and after the subsidy is offered (enter your answers in constructed table below).
What will be the loan balance after five years : What will the monthly payments be and what will be the loan balance after 5 years?
What is probability of finding the mean of a daily sample : A truck manufacturer monitors the width of the door seam as vehicles come off its assembly line. the seam width is the distance between the edge of the door and the truck body, in inches. these data are 62 days of measurements of a passenger door ..
Compute the payments loan balances and yield : Compute the payments, loan balances, and yield for the ARM for the five year period and what would the breakdown of interest and principal be during month 50?
What is the probability that the manufacturer turns a profit : a tire manufacturer warranties its tires to last at least 20,000 miles or "you get a new set". In its experience, a set of these tires last on average 26,000 miles with a standard deviation of 5, 000 miles, Assume that the wear is normally distrib..
Determining critical risk measurements : What is Olter's beta coefficient and how does the beta coefficient influence the firm's stock value and what is the required rate of return for Olter
Define finanical security and stability : Most consumers understand that a good credit score is vital to one's finanical security and stability. Many people may understand how a credit score is calculated

Reviews

Write a Review

Econometrics Questions & Answers

  Find percentage of total variation in the dependent variable

Twenty-six observations are used to obtain the following regression results: DEPENDENT VARIABLE: LNY R-SQUARE F-RATIO P-VALUE ON F OBSERVATIONS: 26 0.3647 4.21 0.0170 VARIABLE PARAMETER STANDARD ESTIMATE ERROR T-RATIO P-VALUE INTERCEPT 2.9957 0.3545 ..

  Calculate the change in the exchange rate

the percentage undervaluation or overvaluation in the Big Mac, based on exchange rates in July 2009. Suppose purchasing power parity holds and in the long run, so that these deviations would be expected to disappear. Suppose the local currency pri..

  What is the cost per mile to own and operate the vehicle

Annual maintenance of the vehicle is estimated to cost $700 per year. The cost of recharging the batteries is estimates at $0.015 per mile. The salvage value of the batteries and the vehicle at the end of 12 years is estimated at $2000. Consider t..

  What capital expenditure can be justified to build the water

The Annual Benefits may be assumed to be one tenth of the decade benefits. The O & M Cost of the project is estimated to $15000 per year. Assume a 50 Year Analysis Period with no net project salvage Value. Purpose 1 decade 2 decade 3 decade 4 deca..

  Calculate the intercept in each of the four quarters

Consider a firm subject to quarter-to-quarter variation in its sales. Suppose that the following equation was estimated using quarterly data for the period 2006-2013 (the time variable goes from 1 to 32). The variables D1, D2 and D3 are , respecti..

  What percent was total real return on this investment

These bonds make annual payments and mature 8 years from now. Suppose you decide to sell your bonds today, when the required return on the bonds is 14 percent. If the inflation rate was 3.3 percent over the past year, your total real return on thi..

  At what level of output would the firm produce

Use the following information to calculate total revenue, marginal revenue, and marginal cost. Indicate the profit-maximizing level of output. If the price was $3 and fixed costs were $5, what would variable cost be? At what level of output would ..

  Explain how the values for marginal physical product

explain how the values (how to calculate them) for Marginal Physical Product and Marginal Revenue Product First Column: Number of workers Second Column: Total output Third Column: Marginal Physical Product Fourth Column: Marginal Revenue Product

  Calculate the profit each firm earns in equilibrium

The inverse market demand in a homogenous-product Cournot duopoly is P = 100 - 2(Q1 + Q2) and costs are C1(Q1) = 12Q1 and C2(Q2) = 20Q2. a. Determine the reaction function for each firm. b. Calculate each firm's equilibrium output.

  Compute a consumer price index for apples for each year

Abby consumes only apples. In year 1, red apples cost 1$ each, green apples 2$ each, and Abby buys ten red apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 10 green apples.

  Compute the price elasticity of demand for paint

Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon to $3.50 a gallon. Your usage of paint drops from 35 gallons a month to 20 gallons a month. Perform the following: 1.Compute the price elasticity of demand ..

  What is the multiplier for a lump-sum tax

What is the equilibrium level of income?  Is there an inflationary or a deflationary gap? Why? What is its magnitude? What is the value of the government expenditures multiplier?  What is the value of G that would move the economy to full employment ..

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