MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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- A random sample of 35 customers has an average order size of $80, and a population standard deviation of $22.00. Not all samples of this size would give you the same sample average, so you'd like to construct an "interval estimate" to convey this uncertainty. What is a 95% confidence interval for this mean? Group of answer choices a $78.77 - $81.23 b $72.56 - $87.44 c $36.88 - $123.12 d $72.71 - $87.29arrow_forwardAnystate Auto Insurance Company took a random sample of 350 insurance claims paid out during a 1-year period. The average claim paid was $1550. Assume ? = $242.Find a 0.90 confidence interval for the mean claim payment. (Round your answers to two decimal places.) lower limit $ upper limit $ Find a 0.99 confidence interval for the mean claim payment. (Round your answers to two decimal places.) lower limit $ upper limit $arrow_forwardAnystate Auto Insurance Company took a random sample of 360 insurance claims paid out during a 1-year period. The average claim paid was $1560. Assume ? = $250.Find a 0.90 confidence interval for the mean claim payment. (Round your answers to two decimal places.) lower limit $ upper limit $ Find a 0.99 confidence interval for the mean claim payment. (Round your answers to two decimal places.) lower limit $ upper limit $arrow_forward
- Siblings Mary and David are each attempting to estimate the proportion of families in their neighborhood who have five or more children. Mary selects a random sample of 50 families to survey, and she observes a sample proportion of 0.10. David selects a random sample of 100 families to survey, and he also observes a sample proportion of 0.10. Mary and David each use their sample data to construct a 95% confidence interval. Who will have the more narrow confidence interval? A. Both intervals will have the same width since the sample proportions are the same. B. Both intervals will have the same width since the level of confidence is the same for each interval. C. Both intervals will have the same width since the sample proportions are the same and the level of confidence is the same for each interval. D. Mary's interval will be more narrow than David's interval. E. David's interval will be more narrow than Mary's interval.arrow_forwardAnystate Auto Insurance Company took a random sample of 372 insurance claims paid out during a 1-year period. The average claim paid was $1545. Assume ? = $270.Find a 0.90 confidence interval for the mean claim payment. (Round your answers to two decimal places.) lower limit $ upper limit $ Find a 0.99 confidence interval for the mean claim payment. (Round your answers to two decimal places.) lower limit $ upper limit $arrow_forwardIn a survey, 14 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $36 and standard deviation of $16. Construct a confidence interval at a 99% confidence level. Give your answers to one decimal place.arrow_forward
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