Instructions: Use this page as your cover page‚ and attach your groupwork behind your work. Your assignment answers should be in complete and grammatically correct sentences. 1. According to the National Center for Health Statistics (2004)‚ 22.4% of adults are smokers. A random sample of 300 adults is obtained. (a) Describe the sampling distribution of phat‚ the sample proportion of adults who smoke. (b) In a random sample of 300 adults‚ what is the probability that
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malfunction. The problem is to compute the 95% confidence interval on π‚ the proportion that malfunction in the population. Solution: The value of p is 12/40 = 0.30. The estimated value of σp is = 0.072. A z table can be used to determine that the z for a 95% confidence interval is 1.96. The limits of the confidence interval are therefore: Lower limit = .30 - (1.96)(0.072) = .16 Upper limit = .30 + (1.96)(0.072) = .44. The confidence interval is: 0.16 ≤ π ≤ .44. Q2. A manager at a power
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Confidence Intervals Consider the following question: someone takes a sample from a population and finds both the sample mean and the sample standard deviation. What can he learn from this sample mean about the population mean? This is an important problem and is addressed by the Central Limit Theorem. For now‚ let us not bother about what this theorem states but we will look at how it could help us in answering our question. The Central Limit Theorem tells us that if we take very many
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Confidence Intervals have numerous applications for professional activities. Confidence Intervals have a wide use in defining the outcome of a particular question. The use of confidence levels are used commonly in Health‚ Business‚ Politics and Engineering venues. There are three examples that will be recognized as having real world applications regarding confidence intervals. An Empirical Test of the Black-Scholes (BS) Option pricing model exhibited the use of a confidence interval approach.
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Practice Problems for Confidence Intervals X ± Z σ/n ; X ± t s/n ; p ± Z (p(1-p)/n) 1. A press release issued by our university claims that West Chester students study at least as much as the national average for students at four year universities. Across the nation‚ 73 percent of all students at four year universities study at least four hours per week. Seventy percent of one hundred randomly selected West Chester students surveyed claimed to study more than four hours per week.
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34. Information from the American Institute of Insurance indicates the mean amount of life insurance per household in the United States is $110‚000. This distribution follows the normal distribution with a standard deviation of $40‚000. a. If we select a random sample of 50 households‚ what is the standard error of the mean? b. What is the expected shape of the distribution of the sample mean? c. What is the likelihood of selecting a sample with a mean of at least $112‚000? d. What is the likelihood
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Chapter 14 1. Templeton Extended Care Facilities‚ Inc. is considering the acquisition of a chain of cemeteries for $410 million. Since the primary asset of this business is real estate‚ Templeton’s management has determined that they will be able to borrow the majority of the money needed to buy the business. The current owners have no debt financing but Templeton plans to borrow $320 million and invest only $90 million in equity in the acquisition. What weights should Templeton use in computing
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A PAR-Q The Physical Activity Readiness Questionnaire PAR Q Form is a personal fitness evaluation of an individual that they normally must fill in so that they are able to participate in physical activity. This is a 1-page form to see if you should check with your doctor before becoming much more physically active. Name: ………………………………………………….. Date: ………………………………………………. Telephone: ……………………………………………………… Date of Birth: ………….. Age: …………… Height: …………… Weight (Lbs): ………………… In case of Emergency contact:
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Jacob Turner Professor White PAR 101-003 12 February 2015 Argument Paper #1 There has been a long-standing question in the world of philosophy on what determines one’s personal identity. Out of all the attributes that make up the individual‚ it seems difficult to decipher what actually makes up the personal identity. The most common choices to this question are the mind‚ the brain‚ the spirit‚ or the body. There has yet been no proof on which of these choices are actually correct but many individuals
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1. Introduction This report is about the case study of PAR‚ INC. From the following book: Statistics for Business an Economics‚ 8th edition by D.R. Anderson‚ D.J. Sweeney and Th.A. Williams‚ publisher: Dave Shaut. The case is described at page 416‚ chapter 10. 2. Problem statement Par‚ Inc. has produced a new type of golf ball. The company wants to know if this new type of golf ball is comparable to the old ones. Therefore they did a test‚ which consists out of 40 trials with the current
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