Question

In: Statistics and Probability

1. It is often difficult to find the exact mean (average) of a large population of...

1. It is often difficult to find the exact mean (average) of a large population of data. We use confidence Intervals to estimate where we think the true mean lies. Discuss the advantages of using a confidence interval. Give an example of a large population of data that is suited to a confidence interval estimate- in other words, it would be very hard to find the exact true mean of the data.

Solutions

Expert Solution


Related Solutions

It is often difficult to find the exact mean average of a large population of data....
It is often difficult to find the exact mean average of a large population of data. We use confidence Intervals to estimate where we think the true mean lies. Discuss the advantages of using a confidence interval. Give an example of a large population of data that is suited to a confidence interval estimate- in other words, it would be very hard to find the exact true mean of the data.
1.Find the population mean or sample mean as indicated. Population: 7, 8​,18​,19​,13. The population mean is?...
1.Find the population mean or sample mean as indicated. Population: 7, 8​,18​,19​,13. The population mean is? (type an integer or decimal rounded to three decimal places as needed) .Find the sample standard deviation. 4​, 58​, 11​, 49​, 37​, 23​, 30​, 27​, 30​, 29 S= ? ( round to one decimal place as needed) 4.An insurance company crashed four cars in succession at 5 miles per hour. The cost of repair for each of the four crashes was ​$430​, ​$457​, ​$418​,...
The manager wants to find out the average (population mean) time required to inflate a rubber...
The manager wants to find out the average (population mean) time required to inflate a rubber raft. Assuming that the manager knows the population standard deviation is 1.6 seconds. A random sample of 45 rafts is inflated, yielding an average inflation time of 7.6 seconds (sample mean). Using sample information to construct: (i) 95% confidence interval for the average inflation time of all rubber rafts. (ii) 99% confidence interval for the average inflation time of all rubber rafts.
Determine whether the equation is exact. If it is exact, find the solution. If it is...
Determine whether the equation is exact. If it is exact, find the solution. If it is not, enter NS. (8x^2−2xy+5)dx+(8y^2−x^2+8)dy=0
What is the exact probability that the sample mean will be within ½ of one sample standard deviation of the population mean? Four decimals
Bird’s data analyst wants to model the sample mean distance of scooter rides. They plan to take a random sample of 41 scooter rides and to record the distance traveled on each ride (distance before the rider “releases” the scooter and the charge is processed). They decide it is reasonable to assume that the distribution of distances is approximately normal, but they don’t know the variance of the distribution. In the sample, the mean is 0.54 mile and the standard...
1. The grade point average (GPA) of a large population of college students follows a normal...
1. The grade point average (GPA) of a large population of college students follows a normal distribution with mean 2.6, and standard deviation of 0.5. Students with GPA higher than 3.5 are considered “exceptional”, 3.0 to 3.5 are considered to be “good”, 2.0 to 3.0 are considered “average”, and below 2.0 are considered to be “poor”. (a) For a randomly selected student, what is the probability that he has a “good” GPA? 
 (b) Suppose 10 students are randomly selected. Let...
Determine whether the equation is exact. If it is exact, FIND THE SOLUTION. If not write...
Determine whether the equation is exact. If it is exact, FIND THE SOLUTION. If not write NOT EXACT. A) (y/x + 12x) + (lnx - 3)y' = 0 x>0 Solve the given initial value problem. B)  (12x2 + y − 1) − (14y − x)y' = 0,    y(1) = 0 y(x) = Determine at least approximately where the solution is valid. (Enter your answer as an inequality for which the solution is valid when true.) The solution is valid as long as:...
Exam 1 1- Let a Population be { 5,7,9,11,13,15} Find the sample mean distribution for pairs....
Exam 1 1- Let a Population be { 5,7,9,11,13,15} Find the sample mean distribution for pairs. (a)Find the Mean + Standard deviation of your distribution (2)Sketch The distribution. (3)Compare the values of the mean and standard deviation of the probability mean distribution and the population. “ Do not give decimals , give exact values” Extra credit : Do problem #1 using R 10.33- In each of the following examples,state whether we are sampling from a finite population or a hypothetically...
1) Assume that a sample is used to estimate a population mean μμ. Find the 80%...
1) Assume that a sample is used to estimate a population mean μμ. Find the 80% confidence interval for a sample of size 47 with a mean of 73.8 and a standard deviation of 6.8. Enter your answer as an open-interval (i.e., parentheses) accurate to one decimal place (because the sample statistics are reported accurate to one decimal place). 80% C.I. = Answer should be obtained without any preliminary rounding. However, the critical value may be rounded to 3 decimal...
1) Assume that a sample is used to estimate a population mean μμ. Find the 98%...
1) Assume that a sample is used to estimate a population mean μμ. Find the 98% confidence interval for a sample of size 514 with a mean of 70.8 and a standard deviation of 14.5. Enter your answer accurate to one decimal place (because the sample statistics are reported accurate to one decimal place). __ < μ < __ 2) Assume that a sample is used to estimate a population mean μμ. Find the 99.5% confidence interval for a sample...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT