### Methods of Interval Estimation

Discuss how you can apply the concept and method of interval estimation to help you solve some of the problems in a regularly accounting department. Give a few examples.

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Discuss how you can apply the concept and method of interval estimation to help you solve some of the problems in a regularly accounting department. Give a few examples.

Whirltag claims that the useful lifetime of its dishwashers is normally distributed with a mean of 3 years and a standard deviation 1 year. Consumer Rejects magazine tested 25 of these dishwashers and found that the average useful life was only 2.5 years. Using Whirltag's reported 1-year standard deviation, what is Consumer Reje

Find th range, mean, variance, and standard deviation of the sample sata set: 19 20 17 21 21 21 19 18 19 19 17 17 15 18 18 18 18 17 17 17 Range: Sample mean, Rount to the nearest hundredth Sample variance(Unse unrounded values to find the answer, Round to the nearest hundredth) Sample standard deviatio

A psychologist has designed a questionnaire to measure individuals' aggressiveness. Suppose that the scores on the questionnaire are normally distributed with a standard deviation of 80. Suppose also that exactly 15% of the scores exceed 700. Find the mean of the distribution of scores. Carry your intermediate computations to at

(See attached file for full problem description) --- 1. The strategic Investment Corporation is developing a mix of investments to meet the needs of a clilent with one million dollars to invest. A mix of five investments are being considered, with data on each as shown below: Investment Minimun Average Maximun

I am trying to calculate the maximum tolerable error given a sample size. I am given the standard deviation and I have been told that the mean is within 1 of the population mean. Without the actual mean, how can I calculate the maximum tolerable error? I am using: maximum allowable error = (z-value * standard deviation)/sq

#78. Consider a sample x1, x2, ..., xn and suppose that the values of x, s2, and s have been calculated. _ a. Let yi = xi - x for i = 1, ..., n. How do the values of s2 and s for the yi's compare to the corresponding values for the xi's? Explain. _ b. Let zi = (xi - x ) / s

1. The number of hours needed by students in an economics course to complete a term paper are attached. A student is selected at random. Find the following probabilities. a. the student took more than 9 hours b. the student took less than 6 hours c. the student took between 7 and 9 hours, inclusive. 2. A box holds 5 bl

Find the standard score for the value x=452 realative to its sample, where the sample mean is 500 and the standard deviation is 32. Then find the value of x that corresponds to the standard score of 1.2, where the mean is 135 and the standard deviation is 15.

Hi, Is this standard deviation problem done correctly? Thank you.

Please explain the process to find the standard deviation with a big difference in the numbers...in seconds, 0,250,0,164,0,519. Please show how to find from this data.

Assume that you are the Quality Manager for the Emerson D. Meritz Machine Tool Company. Your model IE566 grinding machine is afflicted by three types of defects classified as major (type A), serious (type B) and minor (type C). You wish to set up a demerit system for this product using the following weighting scheme: D=100

The College Board American College Testing Program reported a population mean SAT score of  =1017. Assume that the population standard deviation is  = 100. a. What is the probability that a random sample of 75 students will provide a sample mean SAT score within 10 of the population mean? b. What is the pr

If a balanced die is rolled six times and the outcomes create a unique distribution, perform the following: P(exactly three fives) {Use formula} mean {Use formula} variance {use formula} standard devaiation {use formula} Problem # 2 If 20%

Dick Hoover, owner of Modern Office Equipment, is concerned about freight costs and clerical costs incurred on small orders. In an effort to reduce expenditures in this area, he has decided to introduce a discount policy rewarding orders over $40 in the hope that this will cause customers to consolidate a number of small orders

Sixteen retail outlets were surveyed to find the cost of a window chiller. The results are 280,310,265,298,285,325,360,340,260,275,295,280,355,295 and 355. find the midrange find the value corresponding to P50 find the first quartile (in dollars) find the mean find the unbiased standard deviation what is th z-score,

Suppose that we've decided to test Clara, who works at the Psychic Center, to see if she really has psychic abilities. While talking to her on the phone, we'll thoroughly shuffle a standard deck of 52 cards (which is made up of 13 hearts, 13 spades, 13 diamonds, and 13 clubs) and draw one card at random. We'll ask Clara to name

"My Bank" opens a branchin a commercial district. The bank wants to find out the waiting time of their customers during the Friday evening hours from 5pm to 8pm. Accordingly, the waiting time is recorded for all customers during these hours over a month. A random sample of 20 customers is selected; the waiting time, in minutes,

While it cannot be denied that advertising impacts sales, it is also true that advertising is expensive and companies want to advertise in ways that have the greatest benefit for the amount of money spent. A company that sells snack food designs two different advertising strategies, one focusing on print media and the other on r

Find the standard deviation for the following numbers: 10, 7, 8, 12, 14, 19, 6, 4

An investor has a certain amount of money available to invest now. Three alternative portfolio selections are available. The estimated profits of each portfolio under each economic condition are indicated in below table: Portfolio Selection Event A B

I need to know how to do this in EXCEL.. Thank you The question below appears in the attached file as well. You may find it easier to read in the attachment. Given the following population data: 1,2,4,5,8,9,12, and the lists of all samples of size 2 and 5: Samples of n=2 -xbar 1,2--1.5 1,4--2.5 1,5--3 1,8-----------

Question: At the end of the season, the number of wins in a softball league for each of the eight teams is: {10, 9, 5, 4, 4, 3, 3, 2) What is the standard deviation of wins?