Statistics for Management and Economics (Book Only)
11th Edition
ISBN: 9781337296946
Author: Gerald Keller
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 12.3, Problem 82E
a:
To determine
Population proportion of success with sample 200.
b:
To determine
The population proportion of success with sample 500.
c:
To determine
The population proportion of success with sample 1,000.
d:
To determine
Impact of increasing
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Pop. Mean Stand. Dev. Sample size
1 73.00 10.00
6.00
14
2
62.50
8
1.Independent random samples are
selected from two populations. Below
are selected summary statistics.
(a) Construct the 95% confidence interval for μx-µY.
(b) Obtain the P-value for the alternative µx =µY.
If n=200 and X=60, construct a 90% confidence interval estimate for the population proportion.
(Round to four decimal places as needed)
What are the Confidence Intervals for the Population Mean?
Chapter 12 Solutions
Statistics for Management and Economics (Book Only)
Ch. 12.1 - Prob. 1ECh. 12.1 - Prob. 2ECh. 12.1 - Prob. 3ECh. 12.1 - Prob. 4ECh. 12.1 - Prob. 5ECh. 12.1 - Prob. 6ECh. 12.1 - Prob. 7ECh. 12.1 - Prob. 8ECh. 12.1 - Prob. 9ECh. 12.1 - Prob. 10E
Ch. 12.1 - Prob. 11ECh. 12.1 - Prob. 12ECh. 12.1 - Prob. 13ECh. 12.1 - Prob. 14ECh. 12.1 - Prob. 15ECh. 12.1 - Prob. 16ECh. 12.1 - Prob. 17ECh. 12.1 - Prob. 18ECh. 12.1 - Prob. 19ECh. 12.1 - Prob. 20ECh. 12.1 - Prob. 21ECh. 12.1 - Prob. 22ECh. 12.1 - Prob. 23ECh. 12.1 - Prob. 24ECh. 12.1 - Prob. 25ECh. 12.1 - Prob. 26ECh. 12.1 - Prob. 27ECh. 12.1 - Prob. 28ECh. 12.1 - Prob. 29ECh. 12.1 - Prob. 30ECh. 12.1 - Prob. 31ECh. 12.1 - Prob. 32ECh. 12.1 - Prob. 33ECh. 12.1 - Prob. 34ECh. 12.1 - Prob. 35ECh. 12.1 - Prob. 36ECh. 12.1 - Prob. 37ECh. 12.1 - Prob. 38ECh. 12.1 - Prob. 39ECh. 12.1 - Prob. 40ECh. 12.1 - Prob. 41ECh. 12.1 - Prob. 42ECh. 12.1 - Prob. 43ECh. 12.1 - Prob. 44ECh. 12.1 - Prob. 45ECh. 12.1 - Prob. 46ECh. 12.1 - Prob. 47ECh. 12.1 - Prob. 48ECh. 12.1 - Prob. 49ECh. 12.1 - Prob. 50ECh. 12.1 - Prob. 51ECh. 12.1 - Prob. 52ECh. 12.1 - Prob. 53ECh. 12.1 - Prob. 54ECh. 12.1 - Prob. 55ECh. 12.1 - Prob. 56ECh. 12.1 - Prob. 57ECh. 12.1 - Prob. 58ECh. 12.1 - Prob. 59ECh. 12.1 - Prob. 60ECh. 12.1 - Prob. 61ECh. 12.1 - Prob. 62ECh. 12.1 - Prob. 63ECh. 12.1 - Prob. 64ECh. 12.1 - Prob. 65ECh. 12.1 - Prob. 66ECh. 12.1 - Prob. 67ECh. 12.1 - Prob. 68ECh. 12.1 - Prob. 69ECh. 12.2 - Prob. 70ECh. 12.2 - Prob. 71ECh. 12.2 - Prob. 72ECh. 12.2 - Prob. 73ECh. 12.2 - Prob. 74ECh. 12.2 - Prob. 75ECh. 12.2 - Prob. 76ECh. 12.2 - Prob. 77ECh. 12.2 - Prob. 78ECh. 12.2 - Prob. 79ECh. 12.2 - Prob. 80ECh. 12.2 - Prob. 81ECh. 12.3 - Prob. 82ECh. 12.3 - Prob. 83ECh. 12.3 - Prob. 84ECh. 12.3 - Prob. 85ECh. 12.3 - Prob. 86ECh. 12.3 - Prob. 87ECh. 12.3 - Prob. 88ECh. 12.3 - Prob. 89ECh. 12.3 - Prob. 90ECh. 12.3 - Prob. 91ECh. 12.3 - Prob. 92ECh. 12.3 - Prob. 93ECh. 12.3 - Prob. 94ECh. 12.3 - Prob. 95ECh. 12.3 - Prob. 96ECh. 12.3 - Prob. 97ECh. 12.3 - Prob. 98ECh. 12.3 - Prob. 99ECh. 12.3 - Prob. 100ECh. 12.3 - Prob. 101ECh. 12.3 - Prob. 102ECh. 12.3 - Prob. 103ECh. 12.3 - Prob. 104ECh. 12.3 - Prob. 105ECh. 12.3 - Prob. 106ECh. 12.3 - Prob. 107ECh. 12.3 - Prob. 108ECh. 12.3 - Prob. 109ECh. 12.3 - Prob. 110ECh. 12.3 - Prob. 111ECh. 12.3 - Prob. 112ECh. 12.3 - Prob. 113ECh. 12.3 - Prob. 114ECh. 12.3 - Prob. 115ECh. 12.3 - Prob. 116ECh. 12.3 - Prob. 117ECh. 12.3 - Prob. 118ECh. 12.3 - Prob. 119ECh. 12.3 - Prob. 120ECh. 12.3 - Prob. 121ECh. 12.3 - Prob. 122ECh. 12.3 - Prob. 123ECh. 12.3 - Prob. 124ECh. 12.3 - Prob. 125ECh. 12.3 - Prob. 126ECh. 12.3 - Prob. 127ECh. 12.3 - Prob. 128ECh. 12.3 - Prob. 129ECh. 12.4 - Prob. 130ECh. 12.4 - Prob. 131ECh. 12.4 - Prob. 132ECh. 12.4 - Prob. 133ECh. 12.4 - Prob. 134ECh. 12.4 - Prob. 135ECh. 12 - Prob. 136CECh. 12 - Prob. 137CECh. 12 - Prob. 138CECh. 12 - Prob. 139CECh. 12 - Prob. 140CECh. 12 - Prob. 141CECh. 12 - Prob. 142CECh. 12 - Prob. 143CECh. 12 - Prob. 144CECh. 12 - Prob. 145CECh. 12 - Prob. 146CECh. 12 - Prob. 147CECh. 12 - Prob. 148CECh. 12 - Prob. 149CECh. 12 - Prob. 150CECh. 12 - Prob. 151CECh. 12 - Prob. 152CECh. 12 - Prob. 153CECh. 12 - Prob. 154CECh. 12 - Prob. 155CECh. 12 - Prob. 156CECh. 12 - Prob. 157CECh. 12 - Prob. 158CECh. 12 - Prob. 159CECh. 12 - Prob. 160CECh. 12 - Prob. 161CECh. 12 - Prob. 162CECh. 12 - Prob. 163CECh. 12 - Prob. 164CECh. 12 - Prob. 165CECh. 12 - Prob. 166CECh. 12 - Prob. 167CECh. 12 - Prob. 168CECh. 12 - Prob. 169CECh. 12 - Prob. 170CECh. 12 - Prob. 171CECh. 12 - Prob. 172CECh. 12 - Prob. 173CECh. 12 - Prob. 174CECh. 12 - Prob. 175CECh. 12 - Prob. 176CECh. 12 - Prob. 177CECh. 12 - Prob. 178CECh. 12 - Prob. 179CECh. 12 - Prob. 180CECh. 12 - Prob. 181CECh. 12 - Prob. 182CECh. 12 - Prob. 183CECh. 12 - Prob. 184CECh. 12 - Prob. 185CECh. 12 - Prob. 186CECh. 12 - Prob. 187CECh. 12 - Prob. 188CECh. 12 - Prob. 189CECh. 12 - Prob. 190CE
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- Question 1 The distance between the sample mean and the true population is the sampling error, O True Falsearrow_forwardHello! I need help with the following stats questions. 1. What is a confidence interval? 2. What is a confidence coefficient? 3. What do statisticians mean by the term accuracy?arrow_forwardtechnology to answer uns estion. A research center has conducted extensive research on social media usage. One finding was that 73% of adults aged 18 to 24 use Snapchat. Another finding was that 44% of those aged 18 to 24 use Twitter. Assume the sample size associated with both findings is 600. (a) Develop a 95% confidence interval for the proportion of adults aged 18 to 24 who use Snapchat. (Round your answers to four decimal places.) to (b) Develop a 99% confidence interval for the proportion of adults aged 18 to 24 who use Twitter. (Round your answers to four decimal places.) to (c) In which case, part (a) or part (b), is the margin of error larger? Explain why. The margin of error is larger in part (b) ✓for two reasons. The sample proportion of adults aged 18 to 24 who use Twitter is ---Select--than the sample proportion of adults aged 18 to 24 who use Snapchat. Therefore, the standard error of the former is ---Select--than the standard error of the latter. In addition, Z/2 for a…arrow_forward
- In studying his campaign plans, Mr. Singleton wishes to estimate the difference between men's and women's views regarding his appeal as a candidate. He asks his campaign manager to take two random independent samples and find the 80%80% confidence interval for the difference. A random sample of 508508 male voters and 605605 female voters was taken. 108108 men and 193193 women favored Mr. Singleton as a candidate. Find this confidence interval. Step 1 of 4 : Find the values of the two sample proportions, pˆ1�^1 and pˆ2�^2. Round your answers to three decimal places.arrow_forwardThe following sample data are from a normal population: 12, 10, 14, 17, 15, 13, 8, 7. (a) What is the point estimate of the population mean? (b) What is the point estimate of the population standard deviation? (Round your answer to three decimal places.) (c) With 95% confidence, what is the margin of error for the estimation of the population mean? (Round your answer to one decimal place.)arrow_forwardIn studying his campaign plans, Mr. Singleton wishes to estimate the difference between men's and women's views regarding his appeal as a candidate. He asks his campaign manager to take two random independent samples and find the 80%80% confidence interval for the difference. A random sample of 508508 male voters and 605605 female voters was taken. 108108 men and 193193 women favored Mr. Singleton as a candidate. Find this confidence interval. Step 2 of 4 : Find the critical value that should be used in constructing the confidence interval.arrow_forward
- Question: In a certain factory there are two independent processes manufacturing the same item. The average weight in a sample of 250 items produced from one process is found to be 120 ozs. with a standard deviation of 12 ozs. while the corresponding figures in a sample of 400 items from the other process are 124 and 14. Obtain the standard error of difference between the two sample means. Is this difference significant ? Also find the 99% confidence limits for the difference in the average weights of items produced by the two processes respectively.arrow_forwarda news paper ad for a manager trainee position contained the statement "our manager trainee have a first year earnings average of $30000 to $40000.Do you think that the ad is describing a confidence intervalarrow_forwardYou may need to use the appropriate appendx table or technology to answer this question A 95% confidence interval for a population mean was reported to be 147.29 to 156.71Ife 15, what sample size was used in this study? (Round your answer to the nearest integer.) Enter a number Need Help? Masterarrow_forward
- What can I do (Application) Determine what is asked based on the given data below. 1. A study was conducted to determine the average salary of a teacher. With this, 81 teachers were invited as samples. It was known that the mean salary of these sample teachers is P24,000 with a standard deviation P1,000. Construct a 90% confidence interval estimate for the average salary of all teachers.arrow_forward18 We can make a confidence interval more precise (narrower) by, a increasing the sample size. b reducing the confidence level. c increasing the confidence level. d both (a) and (b) are correct.arrow_forwardFewer young people are driving. In 1995, 63.9% of people under 20 years old who were eligible had a driver's license. Bloomberg reported that percentage had dropped to 41.7% in 2016. Suppose these results are based on a random sample of 1,200 people under 20 years old who were eligible to have a driver's license in 1995 and again in 2016. a. At 95% confidence, what is the margin of error and the interval estimate of the number of eligible people under 20 years old who had a driver's license in 1995? Margin of error (to four decimal places) Interval estimate to (to four decimal places) b. At 95% confidence, what is the margin of error and the interval estimate of the number of eligible people under 20 years old who had a driver's license in 2016? Margin of error = (to four decimal places) Interval estimate = to (to four decimal places) c. Is the margin of error the same in parts (a) and (b)? - Select your answer v Why, or why not?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education