Point Estimate of Statistics and Probability Calculation
Not what you're looking for?
1. A simple random sample of five months of sales data provided the following information
Month 1 2 3 4 5
Units Sold 94 100 85 94 92
a. Develop a point estimate of the population mean number of units sold per month.
b. Develop a point estimate of the population standard deviation
2. The College Board reported the following mean scores for the three parts of the Scholastic Aptitude Test (SAT) (The World Almanac, 2009):
Critical Reading 502
Mathematics 515
Writing 494
Assume that the population standard deviation on each part of the test is o = 100.
a. What is the probability a random sample of 90 test takers will provide a sample mean test score within 10 points of the population mean of 502 on the Critical Reading part of the test?
b. What is the probability a random sample of 90 test takers will provide a sample mean test score within 10 points of the population mean of 515 on the Mathematics part of the test (to 4 decimals)?
c. What is the probability a random sample of 100 test takers will provide a sample mean test score within 10 of the population mean of 494 on the writing part of the test (to 4 decimals)?
Purchase this Solution
Solution Summary
The solution gives detailed steps to calculation the point estimate of population mean and standard deviation. Also, the probabilities in a sample with known sample mean and standard deviation are computed step by step.
Solution Preview
1. a. The point estimate is the sample mean. The sample mean is (94+100+85+94+92)/5=93
b. The point estimate is the sample standard deviation. The sample standard deviation is sqrt{[(94-93)^2 + (100-93)^2 + (85-93)^2 + (94-93)^2 + (92-93)^2]/(5-1)}=5.385
2. a. What is the probability a random sample of 90 test ...
Purchase this Solution
Free BrainMass Quizzes
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.