Question

In: Statistics and Probability

In 2018, as a way of commemorating the 10-year anniversary of the release of the first...

In 2018, as a way of commemorating the 10-year anniversary of the release of the first smartphone, an undergraduate student polled a random sample of 26 her peers in hopes of estimating the average time (in hours) such students spend on their smartphone each day, on average. Using the data she collected, she produced a 95% confidence interval for the true mean time college students spend on their phone each day: (5.035, 6.165)

1. What was the margin of error of this confidence interval?

2. What was the sample mean time (in hours) for the n = 26 students?

3. What was the sample standard deviation (in hours) for the n = 26 students? Submit your answer rounded to four decimals.

Show work please and thank you.

Solutions

Expert Solution

1.

Formula for Confidence Interval for Population mean when population Standard deviation is not known

Margin of error

i.e

Confidence Interval for Population mean when population Standard deviation is not known

Given,

95% confidence interval for the true mean time college students spend on their phone each day: (5.035, 6.165)

i.e

- margin of error = 5.035 -------------------------------(1)

+ margin of error = 6.165  -----------------------------(2)

(2) - (1) : [ + margin of error] - [ - margin of error] = 6.165 - 5.035

2 x margin of error = 1.13

margin of error = 1.13/2 = 0.565

margin of error = 0.565

2.

Sample mean time :

- margin of error = 5.035 -------------------------------(1)

+ margin of error = 6.165  -----------------------------(2)

(2) + (1) : [ + margin of error] + [ - margin of error] = 6.165 + 5.035

2 x = 11.2

= 11.2/2 = 5.6

= 5.6

3.

s: Sample standard deviation

From 2 margin of error = 0.565

given n = 26;n-1 =26-1 =25

for 95% confidence level = (100-95)/100 =0.05

/2 = 0.05/2 =0.025

t/2,n-1 = t0.025,25 = 2.0595

Sample standard deviation = 1.3989


Related Solutions

On January 2, 2018, the first year of operations, Brunswick Corp. issued 15,000 shares of $10...
On January 2, 2018, the first year of operations, Brunswick Corp. issued 15,000 shares of $10 par value common stock for $15 per share.  On July 1, 2018, 2,000 of these shares were reacquired for $20 each. On September 1, 2018 Brunswick Corp. reissued 1,000 shares of its treasury stock for $22 per share. No other stock transactions occurred during the rest of fiscal year 2018. Use this information to determine the dollar amount that Brunswick will report on its fiscal...
A company issues a 10-year, 4% coupon bond with semiannual coupon payments. On release, it has...
A company issues a 10-year, 4% coupon bond with semiannual coupon payments. On release, it has a price of $90 per $100 of face value. What is the yield to maturity of this bond when it is released?   A. 5.31% B. 2.65% C. 3.18% D. 5.30% C is incorrect. which one is correct and why?
If a hurricane was headed your way, would you evacuate? The headline of a press release...
If a hurricane was headed your way, would you evacuate? The headline of a press release states, "Thirty-two Percent of People on High-Risk Coast Will Refuse Evacuation Order, Survey of Hurricane Preparedness Finds." This headline was based on a survey of 5237 adults who live within 20 miles of the coast in high hurricane risk counties of eight southern states. In selecting the sample, care was taken to ensure that the sample would be representative of the population of coastal...
Johnsn and Hill formed a company, and 2018 was their first year of operation. a) To...
Johnsn and Hill formed a company, and 2018 was their first year of operation. a) To establish Johnson & Hill each contributed a total of $55,000 in exchange for common stock. b) Johnson & Hillt specializes in high-end parties. The first year they conducted 96 events and revenue for the first year amounted to $480,000, of which 95% was to be paid by the date of the event and the remainder due within 30 days of the event c) Clients...
Johnsn and Hill formed a company, and 2018 was their first year of operation. a) To...
Johnsn and Hill formed a company, and 2018 was their first year of operation. a) To establish Johnson & Hill each contributed a total of $55,000 in exchange for common stock. b) Johnson & Hillt specializes in high-end parties. The first year they conducted 96 events and revenue for the first year amounted to $480,000, of which 95% was to be paid by the date of the event and the remainder due within 30 days of the event c) Clients...
1.Lynn and Jeremy go on a camping trip every year to celebrate their anniversary. Their purchases...
1.Lynn and Jeremy go on a camping trip every year to celebrate their anniversary. Their purchases this year include 2 steaks at $8 per steak, 1 roll of tissue paper at $1.25 per roll, a pack of vegetables at $2 per pack, and 5 gallons of gas at $3.15 per gallon. What is the cost of Lynn and Jeremy's basket of camping goods? 2.Productivity growth is also closely linked to ____________________. Select all that apply: trade balance GDP per capita...
Johnsn and Hill formed a company, and 2018 was their first year of operation. To establish...
Johnsn and Hill formed a company, and 2018 was their first year of operation. To establish Johnson & Hill each contributed a total of $60,000 in exchange for common stock. Johnson & Hill specializes in high-end parties. The first year they conducted 94 events and revenue for the first year amounted to $480,000, of which 95% was to be paid by the date of the event and the remainder due within 30 days of the event. Clients owe $16,000 at...
Milea Inc. experienced the following events in 2018, its first year of operations:
Milea Inc. experienced the following events in 2018, its first year of operations: Received $14,500 cash from the issue of common stock. Performed services on account for $45,000. Paid the utility expense of $1,200. Collected $30,150 of the accounts receivable. Recorded $7,100 of accrued salaries at the end of the year. Paid a $1,100 cash dividend to the stockholders. Prepare the income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows for the 2018 accounting...
At the end of its first year of operations on December 31, 2018, the Hondo Company...
At the end of its first year of operations on December 31, 2018, the Hondo Company reported the following information for the year: (Assume any deferred tax assets are more likely than not to be realized). Pretax income for financial reporting purposes $360,000 Municipal bond interest revenue on State of Texas bonds 12,000 Warranty expense for financial reporting purposes Warranty repair costs during period 30,000 10,000 Excess of MACRS Depreciation for tax purposes above straight line for financial reporting purposes...
At the end of its first year of operations on December 31, 2018, the Skyway Company...
At the end of its first year of operations on December 31, 2018, the Skyway Company reported taxable income of $30,000 and a pretax financial loss of $40,000. Differences between taxable income and pretax financial income included:Environmental fine from the EPA = $20,000Warranty costs expensed for accounting purposes in excess of cash paid for warranty costs = $50,000(Those warranty costs are expected to be paid in 2019.) The enacted tax rates for 2018 and 2019 are 30% and 34%, respectively.REQUIRED:(a)...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT