Download Consider a population with a known standard deviation of 15.4. In

Consider a population with a known standard deviation of 15.4. In order to compute an interval estimate of the population m
35 observations is drawn. Use Table 1.
a.
Is the condition that is normally distributed satisfied?
Yes
No
b. Compute the margin of error at a 90% confidence level. (Round your intermediate calculations to 4 decimal places.
and final answer to 2 decimal places.)
Margin of error
c.
Compute the margin of error at a 90% confidence level based on a larger sample of 310 observations.(Round y
calculations to 4 decimal places. Round "z" value and final answer to 2 decimal places.)
Margin of error
d. Which of the two margins of error will lead to a wider confidence interval?
90% confidence with n = 35.
90% confidence with n = 310.
A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, it is tak
sell a house. The wife is concerned and wants to know when it is optimal to put their house on the market. They ask their r
she informs them that the last 21 houses that sold in their neighborhood took an average time of 60 days to sell. The re
based on her prior experience, the population standard deviation is 14 days. Use Table 1.
a.
What assumption regarding the population is necessary for making an interval estimate of the population mean?
Assume that the population has a normal distribution.
Assume that the central limit theorem applies.
b.
Construct a 90% confidence interval of the mean sale time for all homes in the neighborhood.(Round your intermedi
decimal places, "z" value and final answers to 2 decimal places.)
Confidence interval
to
Consider a population with a known standard deviation of 28.2. In order to compute
an interval estimate of the population mean, a sample of 66 observations is
drawn. Use Table 1.
a. Is the condition that is normally distributed satisfied?
Yes
No
b. Compute the margin of error at a 95% confidence level. (Round your
intermediate calculations to 4 decimal places. Round "z" value and final
answer to 2 decimal places.)
Margin of error
c. Compute the margin of error at a 95% confidence level based on a larger sample
of 265 observations.(Round your intermediate calculations to 4 decimal
places. Round "z" value and final answer to 2 decimal places.)
Margin of error
d. Which of the two margins of error will lead to a wider confidence interval?
95% confidence with n = 265.
95% confidence with n = 66.
A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory
of houses in St. Louis, it is taking longer than before to sell a house. The wife is concerned
and wants to know when it is optimal to put their house on the market. They ask their
realtor friend for help and she informs them that the last 20 houses that sold in their
neighborhood took an average time of 130 days to sell. The realtor also tells them that
based on her prior experience, the population standard deviation is 30 days. Use Table
1.
a. What assumption regarding the population is necessary for making an interval
estimate of the population mean?
Assume that the central limit theorem applies.
Assume that the population has a normal distribution.
b. Construct a 90% confidence interval of the mean sale time for all homes in the
neighborhood.(Round your intermediate calculations to 4 decimal places, "z"
value and final answers to 2 decimal places.)
Confidence interval
to