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Author Question: When the assumption of equally likely outcomes is used to assign probability values, the method used ... (Read 117 times)

tiffannnnyyyyyy

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on: Jun 24, 2018
When the assumption of equally likely outcomes is used to assign probability values, the method used to assign probabilities is referred to as the _____.
 a. relative frequency method
  b. subjective method
  c. probability method
  d. classical method

Question 2

A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks to their clients. A sample of the sales for 36 days revealed an average daily sales of 200,000 . Assume that the standard deviation of the population is known to be 18,000.
 a. Provide a 95 confidence interval estimate for the true average daily sales.
  b. Provide a 97 confidence interval estimate for the true average daily sales.


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Danny Ewald

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Reply #1 on: Jun 24, 2018
Answer to Question 1

d

Answer to Question 2

a. 194,120 to 205,880
b. 193,490 to 206,510


tiffannnnyyyyyy

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

kusterl

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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