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If you are using a student's-t distribution for a homework problem below, you may assume that the underlying population is normally distributed. (In general, you must first prove that assumption, though.)

Among various ethnic groups, the standard deviation of heights is known to be approximately 3 inches. We wish to construct a 95% confidence interval for the mean height of male Swedes. 48 male Swedes are surveyed. The sample mean is 71 inches. The sample standard deviation is 2.8 inches.

    • x ¯ = size 12{ {overline {x}} ={}} {} ________
    • σ = size 12{σ} {} ________
    • s x = size 12{s rSub { size 8{x} } ={}} {} ________
    • n = size 12{n} {} ________
    • n 1 = size 12{n - 1} {} ________
  • Define the Random Variables X size 12{X} {} and X ¯ size 12{ {overline {X}} } {} , in words.
  • Which distribution should you use for this problem? Explain your choice.
  • Construct a 95% confidence interval for the population mean height of male Swedes.
    • State the confidence interval.
    • Sketch the graph.
    • Calculate the error bound.
  • What will happen to the level of confidence obtained if 1000 male Swedes are surveyed instead of 48? Why?

    • 71
    • 3
    • 2.8
    • 48
    • 47
  • N ( 71 , 3 48 ) size 12{ \( "71", { { size 8{3} } over { size 8{ sqrt {"48"} } } } \) } {}
    • CI: (70.15,71.85)
    • EB = 0.85

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In six packages of “The Flintstones® Real Fruit Snacks” there were 5 Bam-Bam snack pieces. The total number of snack pieces in the six bags was 68. We wish to calculate a 96% confidence interval for the population proportion of Bam-Bam snack pieces.

  • Define the Random Variables X size 12{X} {} and P ' size 12{P'} {} , in words.
  • Which distribution should you use for this problem? Explain your choice
  • Calculate p ' size 12{p'} {} .
  • Construct a 96% confidence interval for the population proportion of Bam-Bam snack pieces per bag.
    • State the confidence interval.
    • Sketch the graph.
    • Calculate the error bound.
  • Do you think that six packages of fruit snacks yield enough data to give accurate results? Why or why not?

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A random survey of enrollment at 35 community colleges across the United States yielded the following figures (source: Microsoft Bookshelf ): 6414; 1550; 2109; 9350; 21828; 4300; 5944; 5722; 2825; 2044; 5481; 5200; 5853; 2750; 10012; 6357; 27000; 9414; 7681; 3200; 17500; 9200; 7380; 18314; 6557; 13713; 17768; 7493; 2771; 2861; 1263; 7285; 28165; 5080; 11622. Assume the underlying population is normal.

    • x ¯ = size 12{ {overline {x}} ={}} {}
    • s x = size 12{s rSub { size 8{x} } ={}} {} ________
    • n = size 12{n} {} ________
    • n 1 = size 12{n - 1} {} ________
  • Define the Random Variables X size 12{X} {} and X ¯ size 12{ {overline {X}} } {} , in words.
  • Which distribution should you use for this problem? Explain your choice.
  • Construct a 95% confidence interval for the population mean enrollment at community colleges in the United States.
    • State the confidence interval.
    • Sketch the graph.
    • Calculate the error bound.
  • What will happen to the error bound and confidence interval if 500 community colleges were surveyed? Why?

    • 8629
    • 6944
    • 35
    • 34
  • t 34 size 12{t rSub { size 8{"34"} } } {}
    • CI: (6244, 11,014)
    • EB = 2385
  • It will become smaller

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From a stack of IEEE Spectrum magazines, announcements for 84 upcoming engineering conferences were randomly picked. The mean length of the conferences was 3.94 days, with a standard deviation of 1.28 days. Assume the underlying population is normal.

  • Define the Random Variables X size 12{X} {} and X ¯ size 12{ {overline {X}} } {} , in words.
  • Which distribution should you use for this problem? Explain your choice.
  • Construct a 95% confidence interval for the population mean length of engineering conferences.
    • State the confidence interval.
    • Sketch the graph.
    • Calculate the error bound.

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Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, Collaborative statistics. OpenStax CNX. Jul 03, 2012 Download for free at http://cnx.org/content/col10522/1.40
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