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    Chapter 09 Exercise

    Uploaded by

    Maheen Amjad
    This document contains 6 exercises involving estimation and confidence intervals. The exercises calculate confidence intervals using sample means and proportions to estimate population parameters. The exercises utilize techniques such as the t-distribution and assume knowledge of population standard deviations to construct confidence intervals at various confidence levels for a variety of business and consumer data examples.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Chapter 09 Exercise

    Uploaded by

    Maheen Amjad
    213 views2 pages
    This document contains 6 exercises involving estimation and confidence intervals. The exercises calculate confidence intervals using sample means and proportions to estimate population parameters. The exercises utilize techniques such as the t-distribution and assume knowledge of population standard deviations to construct confidence intervals at various confidence levels for a variety of business and consumer data examples.

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    This document contains 6 exercises involving estimation and confidence intervals. The exercises calculate confidence intervals using sample means and proportions to estimate population parameters. The exercises utilize techniques such as the t-distribution and assume knowledge of population standard deviations to construct confidence intervals at various confidence levels for a variety of business and consumer data examples.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    213 views2 pages

    Chapter 09 Exercise

    Uploaded by

    Maheen Amjad
    This document contains 6 exercises involving estimation and confidence intervals. The exercises calculate confidence intervals using sample means and proportions to estimate population parameters. The exercises utilize techniques such as the t-distribution and assume knowledge of population standard deviations to construct confidence intervals at various confidence levels for a variety of business and consumer data examples.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 2

    CHAPTER 9

    ESTIMATION AND CONFIDENCE INTERVALS

    Exercise 9.1

    Check your answers against those in the ANSWER section.


    The Internal Revenue Service is studying contributions to charity. The mean calculated from a random
    sample of 36 returns is $150. Assume that the population standard deviation is known and equal to $20.
    Construct a 98 percent confidence interval for the population mean.
    Exercise 9.2

    Check your answers against those in the ANSWER section.


    SkyBlue Airways advertises that, on average, its New York to London flight is five hours and 30
    minutes. A consumer advocacy group randomly selects ten New York to London flights on SkyBlue
    and finds that the sample mean is 5.67 hours with a sample standard deviation of 0.57 hour.
    a.
    What is the point estimate of the population mean?
    c.
    Construct a 95 percent confidence interval for the population mean.
    d.
    Explain why the t distribution is used as a part of the confidence interval.
    e.
    Is it reasonable for SkyBlue to claim a mean flight time of 5 hours and 30 minutes?
    Exercise 9.3

    Check your answers against those in the ANSWER section.


    Refer to Exercise 9.1. Compute the 98 percent confidence interval if the population consists of 200 tax
    returns.
    Exercise 9.4

    Check your answers against those in the ANSWER section.


    A random sample of 100 light bulbs is selected. Sixty were found to burn for more than 1,000 hours.
    Develop a 90 percent confidence interval for the proportion of bulbs that will burn more than 1,000
    hours.

    Estimation and Confidence Intervals

    162

    Chapter 9

    Exercise 9.5

    Check your answers against those in the ANSWER section.


    A health maintenance organization (HMO) wants to estimate the mean length of a hospital stay. How
    large a sample of patient records is necessary if the HMO wants to be 99 percent confident of the estimate
    and wants the estimate to be within plus or minus 0.2 days? An earlier study showed the standard
    deviation of the length of stay to be 0.25 days.
    Exercise 9.6

    Check your answers against those in the ANSWER section.


    A large bank believes that one-third of its checking customers have used at least one of the bank's other
    services during the past year. How large a sample is required to estimate the actual proportion within a
    range of plus and minus 0.04? Use the 98 percent level of confidence.

    Estimation and Confidence Intervals

    163

    Chapter 9

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