What percentage of alcohol-impaired driving would you use

Assignment Help Basic Statistics
Reference no: EM13932873

Interpreting Calculator Display The Insurance Institute of America wants to estimate the percentage of drivers aged 18-20 who drive a car while impaired because of alco- hol consumption. In a large study, 42,772 males aged 18-20 were surveyed, and 5.1% of them said that they drove in the last month while being impaired from alcohol (based on data from "Prevalence of Alcohol-Impaired Driving," by Liu, Siegel, et al, Journal of the American Medical Association, Vol. 277, No. 2). Using the sample data and a 95% confidence level, the TI-83 Plus calculator display is as shown.

a. Write a statement that interprets the confidence interval.

b. Based on the preceding result, does alcohol-impaired driving appear to be a problem for males aged 18-20? (All states now prohibit the sale of alcohol to persons under the age of 21.)

c. When setting insurance rates for male drivers aged 18-24, what percentage of alcohol-impaired driving would you use if you are working for the insurance company and you want to be conservative by using the likely worst case scenario?

Reference no: EM13932873

Questions Cloud

Problem regarding the bond valuation : Greenwich  Research  Plcissued  in  22.11.2012  a  10-year,  3.85%  coupon  bond  with coupons paid semi-annually. The bond issue is rated as A- and has a default spread of 1.65%. The Treasury yield rates are presented in the table below.
How can management manipulate net income using : How can management manipulate net income using inventory fraud?
Break-even analysis-what is the firms gain or loss : Break-Even Analysis- The Weaver Watch Company sells watches for $25, fixed costs are $140,000 and variables costs are $15 per watch. What is the firm`s gain or loss at sales of 8,000 watches? At 18,000 watches? What is the break-even point? Illustrat..
Identify and explain the ways that humans learn : Identify and explain the ways that humans learn (reading, writing, speaking, listening). Analyze yourself in relation to your strongest and weakest areas of learning and provide examples that reflect how you plan on improving your learning skills
What percentage of alcohol-impaired driving would you use : what percentage of alcohol-impaired driving would you use if you are working for the insurance company and you want to be conservative by using the likely worst case scenario?
What is stanleys eoq in boxes : Suppose Stanley's Office Supply purchases 50,000 boxes of pens every year. Ordering costs are $80 per order and carrying costs are $0.40 per box. What is Stanley's EOQ in Boxes? Enter your answer rounded to two decimal places.
What is the amount of ending inventory : what is the amount of ending inventory?
Residual dividend mode-dividend payout ratio : Residual dividend model Axel Telecommunications has a target capital structure that consists of 70% debt and 30% equity. The company anticipates that its capital budget for the upcoming year will be $3,000,000. If Axel reports net income of $2,000,00..
Transfer selling marketable securities from its portfolio : Barenbaum Industries projects that cash outlays of $4.5 million will occur uniformly Optimal Cash throughout the year. Barenbaum plans to meet its cash requirements by periodically. Transfer selling marketable securities from its portfolio. The firm’..

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

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