This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A survey of 100 businesses revealed that the mean after-tax profit was 80,000 . Assume the ... (Read 64 times)

stevenposner

  • Hero Member
  • *****
  • Posts: 608
on: Jun 24, 2018
A survey of 100 businesses revealed that the mean after-tax profit was 80,000 . Assume the population standard deviation is 15,000:
 a. Determine the 95 confidence interval estimate of the mean after-tax profit for all businesses.
  b. Explain why you can use the confidence interval formula here, even though the population is not necessarily normal.

Question 2

The total variation in y is equal to SSR + ___________________ _.
 Fill in the blank(s) with correct word


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

asdfasdf

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jun 24, 2018
Answer to Question 1

a. LCL = 77,060 and UCL = 82,940.
b. By the Central Limit Theorem, as long as n is large (and 100 is considered large), the sample means have an approximate normal distribution.

Answer to Question 2

SSE
sum of squares for error


stevenposner

  • Member
  • Posts: 608
Reply 2 on: Jun 24, 2018
Excellent

upturnedfurball

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

In addition to common schools, thousands of female seminaries were built between 1820 and 1850, many In addition to common schools, thousands of female seminaries were built between 1820 and 1850, many
This lithograph of the New York draft riots, 1863, shows that although the rioters mainly targeted b This lithograph of the New York draft riots, 1863, shows that although the rioters mainly targeted b
Patient diagnosed with type 2 diabetes mellitus. Periodontal examination revealed deep periodontal ... Patient diagnosed with type 2 diabetes mellitus. Periodontal examination revealed deep periodontal ...
Survey and posture of client: Lateral view Survey and posture of client: Lateral view
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library