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Math Statistics APPLIED STAT.IN BUS.+ECONOMICS

Estimate σ using the Method 3 from Table 8.11.

Estimate σ using the Method 3 from Table 8.11.

Solution Summary: The author calculates the value of sigma using the Method 3 from Table 8.11.

APPLIED STAT.IN BUS.+ECONOMICS

APPLIED STAT.IN BUS.+ECONOMICS

6th Edition

ISBN: 9781259957598

Author: DOANE

Publisher: RENT MCG

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 8.8, Problem 49SE

a.

To determine

Estimate σ using the Method 3 from Table 8.11.

b.

To determine

Find the sample size required to estimate the mean with 90% confidence and an error of ±0.25 mpg.

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Chapter 8.8, Problem 48SE

Chapter 8.9, Problem 50SE

Chapter 8 Solutions

APPLIED STAT.IN BUS.+ECONOMICS

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