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83 . Σ X N ( n μ x , ( n ) ( σ x ) ) so Σ X N ( 4000 , 28.3 )

84 .The probability is 0.50, because 5,000 is the mean of the sampling distribution of sums of size 40 from this population. Sums of random variables computed from a sample of sufficient size are normally distributed, and in a normal distribution, half the values lie below the mean.

85 . Using the empirical rule, you would expect 95 percent of the values to be within two standard deviations of the mean. Using the formula for the standard deviation is for a sample sum: ( n ) ( σ x ) = ( 40 ) ( 7 ) = 44.3 so you would expect 95 percent of the values to be between 5,000 + (2)(44.3) and 5,000 – (2)(44.3), or between 4,911.4 and 588.6.

86 . μ ( n ) ( σ x ) = 5000 ( 40 ) ( 7 ) = 4955.7

87 . 5000 + ( 2.2 ) ( 40 ) ( 7 ) = 5097.4

7.3: using the central limit theorem

88 . The law of large numbers says that as sample size increases, the sample mean tends to get nearer and nearer to the population mean.

89 . You would expect the mean from a sample of size 100 to be nearer to the population mean, because the law of large numbers says that as sample size increases, the sample mean tends to approach the population mea.

90 . X ~ N (0.10, 0.20)

91 . X ¯ N ( μ x , σ x n ) and the standard deviation of a uniform distribution is b a 12 . In this example, the standard deviation of the distribution is b a 12 = 0.10 12 = 0.03
so X ¯ N ( 0.15 , 0.003 )

92 . Σ X N ( ( n ) ( μ x ) , ( n ) ( σ x ) )  so  Σ X N ( 9.0 , 0.23 )

Practice test 3

8.1: confidence interval, single population mean, population standard deviation known, normal

Use the following information to answer the next seven exercises. You draw a sample of size 30 from a normally distributed population with a standard deviation of four.

1 . What is the standard error of the sample mean in this scenario, rounded to two decimal places?

2 . What is the distribution of the sample mean?

3 . If you want to construct a two-sided 95% confidence interval, how much probability will be in each tail of the distribution?

4 . What is the appropriate z -score and error bound or margin of error ( EBM ) for a 95% confidence interval for this data?

5 . Rounding to two decimal places, what is the 95% confidence interval if the sample mean is 41?

6 . What is the 90% confidence interval if the sample mean is 41? Round to two decimal places

7 . Suppose the sample size in this study had been 50, rather than 30. What would the 95% confidence interval be if the sample mean is 41? Round your answer to two decimal places.

8 . For any given data set and sampling situation, which would you expect to be wider: a 95% confidence interval or a 99% confidence interval?

8.2: confidence interval, single population mean, standard deviation unknown, student’s t

9 . Comparing graphs of the standard normal distribution ( z -distribution) and a t -distribution with 15 degrees of freedom ( df ), how do they differ?

10 . Comparing graphs of the standard normal distribution ( z -distribution) and a t -distribution with 15 degrees of freedom ( df ), how are they similar?

Use the following information to answer the next five exercises. Body temperature is known to be distributed normally among healthy adults. Because you do not know the population standard deviation, you use the t-distribution to study body temperature. You collect data from a random sample of 20 healthy adults and find that your sample temperatures have a mean of 98.4 and a sample standard deviation of 0.3 (both in degrees Fahrenheit).

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
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Lambiv
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WARKISA
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Lambiv
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appreciation
Eliyee
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Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
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Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
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Shukri
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Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
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Shukri
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Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
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Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
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Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
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Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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