Quantitative Research Methods: Estimating Population Mean
Not what you're looking for?
A state meat inspector in Iowa has been given the assignment of estimating the mean net weight of packages of ground chuck labeled "3 pounds." Of course, he realizes that the weights cannot be precisely 3 pounds. A sample of 36 packages reveals the mean weight to be 3.01 pounds, with a standard deviation of 0.03 pounds.
a. What is the estimated population mean?
b. Determine a 95 percent confidence interval for the population mean.
A study of 25 graduates of four-year colleges by the American Banker's Association revealed the mean amount owed by a student in student loans was $14,381. The standard deviation of the sample was $1892. Construct a 90 percent confidence interval for the population mean. Is it reasonable to conclude that the mean of the population is actually $15,000? Tell why or why not.
Purchase this Solution
Solution Summary
This solution works through both of these statistical problems, providing all the steps which are required to reach the final answer. An Excel attachment also accompanies the solution and by clicking directly onto the cells, it shows how the computations have been derived.
Solution Preview
See the attached file. The charts and tables here may not print properly due to formatting issues. Thanks
"A state meat inspector in Iowa has been given the assignment of estimating the mean net weight of packages of ground chuck labeled "3 pounds." Of course, he realizes that the weights cannot be precisely 3 pounds. ...
Purchase this Solution
Free BrainMass Quizzes
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.
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.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.