Question
In: Statistics and Probability
in a certain year the mean interest rate on loans to a random sample of 80...
in a certain year the mean interest rate on loans to a random sample of 80 large retailers (that is, those with assets of $10,000,000 or more) was 10.0% and the standard deviation was 0.6%. Two years later, a random sample of 100 loans to large retailers yielded a mean interest rate of 10.25% and a standard deviation of 0.72%.
a. Would you conclude that there has been a change in the average level of interest rates for large retailers? Use a 0.01 level of significance.
b. Find a 96% confidence interval for the difference between the two means.
Solutions
orchestra answered 2 years agoRelated Solutions
A simple random sample of 60 items resulted in a sample mean of 80. The population...
A simple random sample of 60 items resulted in a sample mean of
80. The population standard deviation is
σ = 5.
(a)
Compute the 95% confidence interval for the population mean.
(Round your answers to two decimal places.)
to
(b)
Assume that the same sample mean was obtained from a sample of
120 items. Provide a 95% confidence interval for the population
mean. (Round your answers to two decimal places.)
to
A simple random sample of 60 items resulted in a sample mean of 80. The population...
A simple random sample of 60 items resulted in a sample mean of
80. The population standard deviation is
σ = 5.
(a)
Compute the 95% confidence interval for the population mean.
(Round your answers to two decimal places.)
to
(b)
Assume that the same sample mean was obtained from a sample of
120 items. Provide a 95% confidence interval for the population
mean. (Round your answers to two decimal places.)
to
A simple random sample of 40 items resulted in a sample mean of 80. The population...
A simple random sample of 40 items resulted in a sample mean of
80. The population standard deviation is s=20.
a. Compute the 95% confidence interval for the
population mean. Round your answers to one decimal place.
b. Assume that the same sample mean was
obtained from a sample of 120 items. Provide a 95% confidence
interval for the population mean. Round your answers to two decimal
places.
c. What is the effect of a larger sample size
on the...
A simple random sample of 60 items results in a sample mean of 80. The population...
A simple random sample of 60 items results in a sample mean of
80. The population standard deviation is σ = 15.
Compute the 95% confidence interval for the population mean.
(Round to two decimal places) __________ and __________
Assume the same sample mean was obtained from a sample of 120
items. Provide a 95% confidence interval for the population mean.
(Round to two decimal places) __________ and __________
A simple random sample of 60 items resulted in a sample mean of 80. The population...
A simple random sample of 60 items resulted in a sample mean of
80. The population standard deviation is 15.
At 95% confidence, what is the margin of error (to 4
decimals)?
-
What is the standard error of the mean (to 4 decimals)?
-
Which statement should you use to explain the 95% confidence
interval ?
Group of answer choices:
A. We are confident that 95% of population are in the confidence
interval
B. We are 95% confident that...
A simple random sample of 80 items resulted in a sample mean of 60. The population...
A simple random sample of 80 items resulted in a sample mean of
60. The population standard deviation is σ = 5.
a.Compute the 95% confidence interval for the population mean.
(Round your answers to two decimal places.)
____ to ___
b.Assume that the same sample mean was obtained from a sample of
160 items. Provide a 95% confidence interval for the population
mean. (Round your answers to two decimal places.)
___ to ____
c.What is the effect of a...
The recent default rate on all student loans is 6.2 percent. In a recent random sample...
The recent default rate on all student loans is 6.2 percent. In
a recent random sample of 314 loans at private universities, there
were 8 defaults.
Does this sample show sufficient evidence that the private
university loan default rate is below the rate for all
universities, using a left-tailed test at α = .010?
(a-1)
Choose the appropriate hypothesis.
a.
H0: ππ
≥ .062; H1: ππ < .062. Accept
H0 if z < –2.326
b.
H0: ππ
≥ .062; H1:...
The mean diastolic blood pressure for a random sample of 80 people was 99 millimeters of...
The mean diastolic blood pressure for a random sample of 80
people was 99 millimeters of mercury. If the standard deviation of
individual blood pressure readings is known to be 11 millimeters of
mercury, find a 95% confidence interval for the true mean diastolic
blood pressure of all people. Then complete the table below.
Carry your intermediate computations to at least three decimal
places. Round your answers to one decimal place. (If necessary,
consult a list of formulas.)
What is...
In a random sample of 24 hip surgeries of a certain type, the mean surgery time...
In a random sample of 24 hip surgeries of a certain type, the
mean surgery time was 136.9 minutes with a sample standard
deviation of 22.6 minutes. Which of the following is a 99%
confidence interval for the population mean surgery time?
a.
(127.36, 146.44)
b.
(123.95, 149.85)
c.
(128.99, 144.81)
d.
(125.02, 148.78)
The unemployment rate in a certain city is 8.5%. A random sample of 100 people from...
The unemployment rate in a certain city is 8.5%. A random sample
of 100 people from the labor force is drawn. Find the probability
that the sample contains at least ten unemployed people.
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Merger Analysis TransWorld Communications Inc., a large telecommunications company, is evaluating the possible acquisition of Georgia...
- Journal Entries and Trial Balance Elite Realty acts as an agent in buying, selling, renting, and...
- In racket Assume that the elements of a list are indexed starting with 1. Write a...
- Describe System Development Life Cycle (SDLC) and how it is used.
- What symbolism do you find in the play,Oedipus?
- • Using the Scanner class to obtain input from the user. • Using printf to output...
- In each of the following situations, develop a tentative plan for the client. List the various...
ADVERTISEMENT