Question

In: Statistics and Probability

Q.1: PTDC plans to sample people coming first time to Lahore and visiting the Fort. Current...

Q.1: PTDC plans to sample people coming first time to Lahore and visiting the Fort. Current estimates are 35 percent of people coming first time to Lahore also visit the Fort. How large a sample would you take to estimate at a 95 percent level of confidence the population proportion with an allowable error of 2 percent?

Q.2: A sample of 10 executives revealed the following salary(1000$).              

10

12

23

15

18

29

17

10

20

12

23

14

10

20

14

  1. Find the mean salary level for this sample. What is the point estimate of population mean.            

Develop a 90% confidence interval for the population mean.                         

Solutions

Expert Solution

orchestra answered 2 years ago
Next > < Previous

Related Solutions

1. In a random sample of 8 ​people, the mean commute time to work was 34.534.5...
1. In a random sample of 8 ​people, the mean commute time to work was 34.534.5 minutes and the standard deviation was 7.27.2 minutes. A 9090​% confidence interval using the​ t-distribution was calculated to be left parenthesis 29.7 comma 39.3 right parenthesis(29.7,39.3). After researching commute times to​ work, it was found that the population standard deviation is 9.19.1 minutes. Find the margin of error and construct a 9090​% confidence interval using the standard normal distribution with the appropriate calculations for...
1. In a random sample of 23 people, the mean commute time to work was 32.2...
1. In a random sample of 23 people, the mean commute time to work was 32.2 minutes and the standard deviation was 7.2 minutes. Assume the population is normally distributed and use a t-distribution to construct a 98% confidence interval for the population mean mu. What is the margin of error of mu? Interpret the results. Round to one decimal place as needed.
Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. Unit...
Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. Unit variable cost is $45 (includes direct materials, direct labor, variable factory overhead, and variable selling expense). Fixed factory overhead is $20,000 and fixed selling and administrative expense is $29,500. Required: 1. Calculate the variable cost ratio. 2. Calculate the contribution margin ratio. 3. Prepare a contribution margin income statement based on the budgeted figures for next year. In a column next to the income...
Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. Unit...
Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. Unit variable cost is $45 (includes direct materials, direct labor, variable factory overhead, and variable selling expense). Total fixed cost equals $49,500 (includes fixed factory overhead and fixed selling and administrative expense). Required: 1. Calculate the number of helmets Head-First must sell to earn operating income of $81,900. 2. Check your answer by preparing a contribution margin income statement based on the number of units...
1.In a random sample of 23 ​people, the mean commute time to work was 31.1 minutes...
1.In a random sample of 23 ​people, the mean commute time to work was 31.1 minutes and the standard deviation was 7.2 minutes. Assume the population is normally distributed and use a​ t-distribution to construct a 80​% confidence interval for the population mean mu. What is the margin of error of mu​? Interpret the results. The confidence interval for the population mean mu is left parenthesis nothing comma nothing right parenthesis . ​(Round to one decimal place as​ needed.) 2.In...
Q. 2. Bob Sample opened Campus Laundry on September 1, 2015. During the first month of...
Q. 2. Bob Sample opened Campus Laundry on September 1, 2015. During the first month of operations the following transactions occurred. September 1: Stockholders invested 80,000 SR cash in the business. September 2: Cash deposited into Commercial Bank SR 15,000. September 3: Paid 2,500 SR cash for store rent for the month of September. September 4: Purchased washers and dryers for 45,000 SR September 6: Paid 2,800 SR for one-year insurance policy. September 20: Declared and paid a 2,900 SR...
Q. Mr. Miles is a first time investor and wants to build a portfolio using only...
Q. Mr. Miles is a first time investor and wants to build a portfolio using only U.S. T-bills and an index fund that closely tracks the S&P 500 Index. The T-bills have a return of 5%. The S&P 500 has a standard deviation of 20% and an expected return of 15%. 1. Draw the CML and mark the points where the investment in the market is 0%, 25%, 75%, and 100%. 2. Mr. Miles is also interested in determining the...
Q: When time series exhibit a trend the first differences should be used to fit a...
Q: When time series exhibit a trend the first differences should be used to fit a ARIMA model. True or False and Why? Q: Randomized experimental designs are considered the gold standard because the influence of confounders on the treatment effect estimation is limited through the process of random selection into treatment group and control group, so it leads to an unbiased estimation of the treatment effect. True or False and Why?
(Cost of commercial paper​) Tri-State Enterprises plans to issue commercial paper for the first time in...
(Cost of commercial paper​) Tri-State Enterprises plans to issue commercial paper for the first time in the​ firm's 35-year history. The firm plans to issue $400,000 in 270​-day maturity notes. The paper will carry a 10.25 percent rate with discounted interest and will cost​ Tri-State $11,000 ​(paid in​ advance) to issue. Note​: Assume a​ 30-day month and​ 360-day year. a. What is the effective cost of credit to​ Tri-State? b. What other factors should the company consider in analyzing whether...
has assembled statements and information to prepare financial plans for the coming year 20xx+1. Income Statement...
has assembled statements and information to prepare financial plans for the coming year 20xx+1. Income Statement For the year ended 30 December 20xx (Thousands of Dollars) Sales $36,000 Operating expenses 32,440 Earnings before interest and taxes $3,560 Interest 560 Pre-tax earnings $3,000 Taxes 1,200 Net income $1,800 Cash dividends 810 Addition to retained earnings $990 Balance Sheet 31 December 20xx (Thousands of Dollars) Assets Liabilities and equities Cash $1,080 Accounts payable $4,320 Marketable securities 500 Taxes payable 180 Account receivable...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT