« previous next »

Author Question: An economist is interested in studying the incomes of consumers in a particular country. The ... (Read 55 times)

nmorano1

  • Hero Member
  • *****
  • Posts: 598
on: Jun 24, 2018
An economist is interested in studying the incomes of consumers in a particular country. The population standard deviation is known to be 1,000. A random sample of 50 individuals resulted in a mean income of 15,000. What total sample size would the economist need to use for a 95 confidence interval if the width of the interval should not be more than 100?
 
  A) n = 40 B) n = 1537 C) n = 385 D) n = 20

Question 2

The head librarian at the Library of Congress has asked her assistant for an interval estimate of the mean number of books checked out each day. The assistant provides the following interval estimate: from 740 to 920 books per day. If the head librarian knows that the population standard deviation is 150 books checked out per day, and she asked her assistant to use 25 days of data to construct the interval estimate, what confidence level can she attach to the interval estimate?
 
  A) 99.7 B) 99.0 C) 95.4 D) 98.0


tandmlomax84

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 24, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

nmorano1

  • Hero Member
  • *****
  • Posts: 598
Reply #2 on: Jun 24, 2018
Thank you


tandmlomax84

  • Sr. Member
  • ****
  • Posts: 323
Reply #3 on: Jun 24, 2018
No problemo


« previous next »
 

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Fallow deer at Avon Valley Country Park, Bristol, England Fallow deer at Avon Valley Country Park, Bristol, England
Studying the Canopy Studying the Canopy
The world attempted to deal with Somalia as if it were a real country but painfully learned that Som The world attempted to deal with Somalia as if it were a real country but painfully learned that Som
Age-standardized disability-adjusted life year (DALY) rates from hepatitis B by country (per 100 000 ... Age-standardized disability-adjusted life year (DALY) rates from hepatitis B by country (per 100 000 ...
Data Used to Analyze Productivity in Country 1 and Country 2 Data Used to Analyze Productivity in Country 1 and Country 2
Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ... Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ...
Video: Net filtration pressure and lymph formation, edema & blood velocity

For a complete list of videos, visit our video library