Question

In: Statistics and Probability

Hey the correct answer is given for both, but can you please do the steps on...

Hey the correct answer is given for both, but can you please do the steps on how to get to the answer, Im confused on how to solve? Thank you!

3. At least what sample size is necessary in order to obtain a 90% confidence interval of length 6, when SD = 10?

A. 8 B. 16 C. 60 D. 15 E. 61 Answer: E

4. With which combination of confidence level and sample size will the corresponding confidence interval be largest?

A. 90%, n = 25 B. 99%, n = 50 C. 80%, n = 20 D. 95%, n = 25 E. 98%, n = 50 Answer: D

Solutions

Expert Solution

3) At 90% confidence level, the critical value is z0.05 = 1.645

Margin of error = 6/2

b) We know that if the sample size decreases and the confidence level increases, then the width of the interval becomes wider.

So for a smaller sample size and greater confidence level, the confidence interval will become largest.

So, Option - D is correct.

                                               

                           

                                              

                                              

                                                


Related Solutions

Hey can you please answer this question in detail and explanation in your own word i...
Hey can you please answer this question in detail and explanation in your own word i need to post in discussion board Perform a Internet search upon the term and concept black box as it pertains to computer science. Why is this an important concept within software design and development? Why is this concept important within the context of code reuse? Be sure to give thought to each assigned question before posting.
Hey can you please answer this question in detail and explanation in your own word i...
Hey can you please answer this question in detail and explanation in your own word i need to post in discussion board Are there ethical issues to consider when designing a database? For example, should highly sensitive personal data (such as patient medical information) be stored in the same database that manages and contains office supply inventories? Why or why not? Suggest three situations where referential integrity and relationships, inherent in a relational database management system (RDBMS), avoids data problems....
Hey can you please answer this question in detail and explanation in your own word i...
Hey can you please answer this question in detail and explanation in your own word i need to post in discussion board If you were to perform the analysis and develop a logical model for the college's course registration system, would it be better to use a top-down approach or a bottom-up strategy (or another approach...be sure to describe). What are the reasons for your approach decision? Use a scenario from everyday life to create a basic decision table with...
if you can't answer both please do not answer 1. A CUTCO Knives salesperson is required...
if you can't answer both please do not answer 1. A CUTCO Knives salesperson is required to document five in-home visits per day. If she has a 25% chance of being invited into any given home, with each home representing an independent trial. If she selects, ahead of time, the addresses on 10 homes upon which to call, what is the probability her fifth success occurs on the tenth trial? 2. Lots of 30 syringes are called acceptable by using...
(Answers are given but can you please work through the problem and show the steps) Chapter...
(Answers are given but can you please work through the problem and show the steps) Chapter 10 p2 Allied Corporation is trying to determine whether to purchase Machine A or B. It has leased the two machines for a month. A random sample of 5 employees has been taken. These employees have gone through a training session on both machines. Below you are given information on their productivity rate on both machines. (Let the difference d = Machine A -...
Hi can you do me this 3 exercises? if you answer them all and are correct...
Hi can you do me this 3 exercises? if you answer them all and are correct I will put thumbs up! thanks :) 7) Focus groups of 14 people are randomly selected to discuss products of the Famous Company. It is determined that the mean number (per group) who recognize the Famous brand name is 9, and the standard deviation is 0.79. Would it be unusual to randomly select 14 people and find that greater than 13 recognize the Famous...
can you check if my answers are correct and can you please type the correct answers...
can you check if my answers are correct and can you please type the correct answers for each question 5 points) Trevor is interested in purchasing the local hardware/electronic goods store in a small town in South Ohio. After examining accounting records for the past several years, he found that the store has been grossing over $850 per day about 60% of the business days it is open. Estimate the probability that the store will gross over $850 at least...
Hi all, Can someone please answer this question. Please list steps! Thanks! You have the chance...
Hi all, Can someone please answer this question. Please list steps! Thanks! You have the chance to participate in a project that produces the following cash flows: Cash Flows ($) C0 C1 C2 3,900 5,100 –10,900 a. The internal rate of return is 14.13%. If the opportunity cost of capital is 14%, what is the NPV of the project? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal...
Please show work/formulas and financial calculator steps, if used. Answer as much as you can (The...
Please show work/formulas and financial calculator steps, if used. Answer as much as you can (The following information applies to Problems 1-4) The Collins Group, a leading producer of custom automobile accessories, has hired you to estimate the firm's weighted average cost of capital. The balance sheet and some other information are provided below. Assets Current assets                                        $ 38,000,000 Net plant, property, and equipment                    101,000,000 Total assets                                          $139,000,000 Liabilities and Equity Accounts payable                                      $ 10,000,000 Accruals                                                9,000,000 Current liabilities                                   $...
Hi all, Can someone please answer this question with all steps! Thank you! As a result...
Hi all, Can someone please answer this question with all steps! Thank you! As a result of improvements in product engineering, United Automation is able to sell one of its two milling machines. Both machines perform the same function but differ in age. The newer machine could be sold today for $69,500. Its operating costs are $22,600 a year, but in five years the machine will require a $18,700 overhaul. Thereafter operating costs will be $31,300 until the machine is...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT