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
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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
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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...
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