Question

In: Statistics and Probability

2) Rather than one patient, you are now measuring iron levels from a group of individuals...

2) Rather than one patient, you are now measuring iron levels from a group of individuals in the group. Using that sample size, determine the range within the groups average iron level would be consider usual. Describe how you arrived at that range using the central limit theorem and the empirical rule

Need it done urgently please. Thanks alot.

Solutions

Expert Solution

A value is considered unusual if there is only less than 5% chance of its occurrence.

According to Empirical rule, 95% of the data lies within 2 standard deviations of mean. That is, any value that is inside 2 standard deviations of mean can be considered usual.

If sampling distribution of mean is considered, with a sample size n, according to Central Limit Theorem. the standard deviation of sampling distribution of mean which is also called the standard error, is given by = , where is the population standard deviation.

Lets indicate the population mean

Then, the range of usual values is ( - ) to ( + )

Interval that contains usual values = [ - , + ]


Related Solutions

What are 4 advantages and 4 disadvantages of collective funds rather than individuals investing on their...
What are 4 advantages and 4 disadvantages of collective funds rather than individuals investing on their own?
If a patient has higher than normal levels of Parathyroid Hormone (PTH), you would expect to...
If a patient has higher than normal levels of Parathyroid Hormone (PTH), you would expect to see: A. hypoglycemia B. hypercalcemia C. hyperkalemia D. increased Metabolic Rate & weight loss E. hypokalemia
Which foods high in iron do you consume regularly? What happens if iron levels in the...
Which foods high in iron do you consume regularly? What happens if iron levels in the body are too low or high? Let’s say you and a friend each take a daily multi-mineral supplement made by a different company, and one of you develops symptoms of mineral deficiency. How is that possible? Other than iron, choose one of the major minerals and one of the trace minerals from your reading as examples. What does deficiency look like for each? What...
1) Are individuals in the United States “better off ” economically now than they were at...
1) Are individuals in the United States “better off ” economically now than they were at the beginning of the twenty-first century? Why? 2) Obtain several recent issues of The Wall Street Journal or Bloomberg Businessweek. Identify, read, and be discuss at least one article relating to one of the six principles of finance. Cite the date and name of the article. 3) Some economists believe that an increase in the money supply will lead to inflation. Do you agree?...
A restaurant chain is measuring the levels of arsenic in chicken from its suppliers. The question...
A restaurant chain is measuring the levels of arsenic in chicken from its suppliers. The question is whether there is evidence that the mean level of arsenic is greater than 80 ppb. The levels of arsenic (in ppb) are: 68,75,81,93,95,134 What is the sample mean for the data? Use the appropriate notation.      2.    Write the null and alternative hypothesis. 3.    Describe the meaning of the parameter used in Part (2) 4. Translate the original sample data by the appropriate...
7. Now assume the country has a fixed exchange rate rather than a floating rate. a....
7. Now assume the country has a fixed exchange rate rather than a floating rate. a. Explain how the central bank could use a change in the exchange rate to stimulate the economy. Also, explain what monetary and fiscal policies you would use along with a change in the exchange rate. b. Now suppose the country has large debts in a foreign currency. Would this change your answer in (a)? Explain.
Many individuals prefer to lease their vehicles rather than buy them. A new Cadillac CTSV can...
Many individuals prefer to lease their vehicles rather than buy them. A new Cadillac CTSV can be leased for a down payment of $6,000 and 36 end-of-the -month payments of $599. Alternately, the car can be purchased for cash for $42,000 and a CTSV with about 60,000 miles is estimated to have resale value of $20,000 in three years from now. Should one lease or buy if opportunity cost is 6.36%APR?
After measuring two individuals, a researcher can say that the score for one individual is larger...
After measuring two individuals, a researcher can say that the score for one individual is larger that the score for the other, but it impossible to say how much larger. Would this scale fo measurement be ordinal?
If you expect to receive $100 in one year from now, $200 two years from now,...
If you expect to receive $100 in one year from now, $200 two years from now, and $150 three years from now, How much this cash flow is worth today if the interest rate is 10%
Briefly describe the problems that always arise from measuring price levels with a fixed basket of...
Briefly describe the problems that always arise from measuring price levels with a fixed basket of goods and what steps can be taken to counter these problems.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT