Question

In: Statistics and Probability

Question 1: On your shelf, you have four books that you are planning to read in...

Question 1: On your shelf, you have four books that you are planning to read in the near future. Two are fictional works, containing 212 and 379 pages, respectively, and the other two are nonfiction, with 350 and 575 pages, respectively.

  1. (a) Compute the population mean μ and standard deviation σof the (parent) population of number of pages of the N = 4 books.

  2. (b) Suppose that you select a simple random sample of n = 2 books from the four (i.e., a random sample drawn without replacement) to take on a one-week ski trip (in case you injure yourself). Let X̄denote the sample mean number of pages for the two books selected. Obtain the sampling distribution of X̄.

  3. (c) Determine the mean μX̄ and the standard deviation σX̄of the sampling distribution of X̄ and verify that μX̄ = μ and σ2̄ = (σ2/n)[(N − n)/(N − 1)].

Question 2: To avoid difficulties with the federal or provincial and local consumer protection agencies, a beverage bottler must make reasonably certain that 355 millilitre (mL) bottles actually contain 355 mL of beverage. To determine whether a bottling machine is working satisfac- torily, one bottler randomly samples n = 10 bottles per hour and measures the amount of beverage in each bottle. The sample mean X̄ of the 10 fill measurements is used to decide whether to readjust the amount of bever- age delivered per bottle by the filling machine. If records show that the amount of fill per bottle is normally distributed, with a standard deviation of σ = 5.91 mL, and if the bottling machine is set to deliver a mean fill per bottle of μ = 357.8 mL, what is the probability that the sample mean amount of beverage X̄ of the next 10 test bottles is less than 355 mL?

Question 3: The weight of a randomly selected bag of fertilizer has a mean of 50 lb and a standard deviation of 1 lb. What is the approximate probability that a random sample of 100 bags of fertilizer will weigh in total more than 5025 lb?

Question 4: Suppose that a particular candidate for public office is in fact favoured by 48% of all registered voters in the district. A polling organization will take a random sample of 500 voters and will usepˆ, the sample proportion of registered voters in favour of the candidate, to estimate p = .48. What is the approximate probability that pˆ will be greater than .5, causing the polling organization to incorrectly predict the result of the upcoming election?

Question 5:

  1. (a) Why is an unbiased statistic generally preferred over a biased statistic for estimating a population parameter?

  2. (b) Does unbiasedness alone guarantee that the estimate will be close to the true parameter value? Explain.

  3. (c) Under what circumstances might you choose a biased statistic over an unbiased statistic if two such statistics are available for estimating a population parameter?

Question 6: Here are the weights in kilograms (kg) of a random sample of n = 24 male runners

67.8 61.9 63.0 53.1 62.3 59.7 55.4 58.9 60.9 69.2 63.7 68.3 64.7 65.6 56.0 57.8 66.0 62.9 53.6 65.0 55.8 60.4 69.3 61.7

Suppose that male runner weight is normally distributed, with a standard deviation of σ = 4.5 kg. Compute a 95% confidence interval for the popula- tion mean weight μ of a male runner. Are you quite sure that μ is less than 65 kg? Why?

Solutions

Expert Solution

1.

a) Population mean , = (212+379+350+575)/4 = 379

Population standard deviation , = {(212-379)^2 + (379-379)^2 + (350-379)^2 + (575-379)^2 )} / 4 = 129.5627

b) is the mean of the no. of pages of two books selected without replacement. The values of will be (212+379)/2 , (212+350)/2 , (212+575)/2 , (379+350/)/2 , (379+575)/2 , (350+575)/2 which is 295.5 , 281 , 393.5 , 364.5 , 477 , 462.5 respectively.

c) Mean of , = (295.5 + 281 + 393.5 + 364.5 + 477 + 462.5)/6 = 379

Therefore mean of , ​​​​​​​  is equal to the mean of the population .

Standard deviation of , = {(295.5-379)^2 + (281-379)^2 + (393.5-379)^2 + (364.5-379)^2 + (477-379)^2) + (462.5-379)^2)} / 6 = 74.8030

Variance of , 2 = (74.8030)^2 = 5595.4977

Consider, (2/n)[(N-n)/(N-1)] = {(129.5627)^2/2} * { (4-2)/(4-1)} = 5595.49 = 2

Hence 2 = (2/n)[(N-n)/(N-1)]

2)


Related Solutions

Question # 5. (a) Harry is arranging his spell books on the shelf of his dorm...
Question # 5. (a) Harry is arranging his spell books on the shelf of his dorm room. He has 6 different books of fire spells, and 5 different books containing ice spells. In how many possible ways can Harry arrange his spell books, if no two books of the same kind can be adjacent? (b) Ron is arranging his spell books on the shelf of his dorm room. He has 5 different books of fire spells and 5 different books...
You have commenced planning the audit of FC, as part of your preliminary planning you visit...
You have commenced planning the audit of FC, as part of your preliminary planning you visit the factory. While there you notice there are large quantities of high value raw materials, genuine silks and other similar high value items stored in an unlocked store room at one end of the building. Workers would walk in select bolts of material and take them back to the cutting tables. On enquiry you are told that each night the storeman notes down the...
Case Analysis #1 After reviewing the shelf life for your firm’s IT systems, you realize that...
Case Analysis #1 After reviewing the shelf life for your firm’s IT systems, you realize that in the next 5 yrs the firm’s accounting system will have to be replaced. The replacement cost is estimated at $450,000. In your current budget, you realize you have 310,000 in cash to invest. Right now, you can invest the $310,000 in the bank. This account will pay 4% interest compounded annually. However, a member of your Finance and Accounting department has presented you...
You are planning your retirement and you come to the conclusion that you need to have...
You are planning your retirement and you come to the conclusion that you need to have saved $3000000million in 30 years. You can invest into an retirement account that guarantees you a 13% annual return. How much do you have to put into your account at the end of each year to reach your retirement goal?
7. Suppose that you are planning to take a four-year loan of $200,000 for your program....
7. Suppose that you are planning to take a four-year loan of $200,000 for your program. The interest rate of this loan is 7% and its compounds annually. What would be the amount of interest? 8. Assume that a $50,000 investment is held for five years in a savings account with 5% simple interest paid annually. What is the future value of such investment?
The four management functions are planning, organizing, leading, and controlling. Think of a job you have...
The four management functions are planning, organizing, leading, and controlling. Think of a job you have now or one you have had in the past. List the managerial activities you have done or observed. If you have never had a paid job, remember that it takes management skills to manage a home, run a baseball team, and lead a church group. Classify each activity of your job according to whether it involved planning, organizing, leading, or controlling - there should...
You are planning for your retirement and have decided the following: you will retire in 38...
You are planning for your retirement and have decided the following: you will retire in 38 years and would like to have $7,000 per month as retirement income for 30 years of retirement. You have access to an account that earns a 9% rate of return. 1) How much will you need to have when you retire to be able to withdraw the desired $7,000 per month during your years of retirement? 2) If you plan to save by making...
You are planning for your retirement and have decided the following: you will retire in 40...
You are planning for your retirement and have decided the following: you will retire in 40 years and will make monthly deposits into your retirement account of $300 for the next 15 years and then monthly deposits of $750 for the remaining 25 years until retirement. This account earns a 7% rate of return, compounded monthly. In addition, you will inherit $50,000 7 years from today. The inheritance will be deposited into an account that will earn 10% per year...
You are planning for your retirement and have decided the following: you will retire in 40...
You are planning for your retirement and have decided the following: you will retire in 40 years and will make monthly deposits into your retirement account of $300 for the next 15 years and then monthly deposits of $750 for the remaining 25 years until retirement. This account earns a 7% rate of return, compounded monthly. In addition, you will inherit $50,000 7 years from today. The inheritance will be deposited into an account that will earn 10% per year...
You are planning for your retirement and have decided the following: you will retire in 35...
You are planning for your retirement and have decided the following: you will retire in 35 years and will make monthly deposits into your retirement account of $400 for the next 15 years and then monthly deposits of $800 for the remaining 20 years until retirement. This account earns a 7% rate of return, compounded monthly. In addition, you will inherit $50,000 7 years from today. The inheritance will be deposited into an account that will earn 10% per year...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT