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Author Question: Suppose (1,000, 2,100) is a 95% confidence interval for . To make more useful inferences from the ... (Read 66 times)

Tirant22

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on: Feb 14, 2020

Question 1

A retired statistician was interested in determining the average cost of a $200,000.00 term life insurance policy for a 60-year-old male non-smoker. He randomly sampled 65 subjects (60-year-old male non-smokers) and constructed the following 95 percent confidence interval for the mean cost of the term life insurance: ($850.00, $1050.00). What value of alpha was used to create this confidence interval?
◦ 0.05
◦ 0.10
◦ 0.01
◦ 0.025

Question 2

Suppose (1,000, 2,100) is a 95% confidence interval for μ. To make more useful inferences from the data, it is desired to reduce the width of the confidence interval. Explain why an increase in sample size will lead to a narrower interval of the estimate of μ.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
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Marked as best answer by Tirant22 on Feb 14, 2020

ebonylittles

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Reply #1 on: Feb 14, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Tirant22

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Reply 2 on: Feb 14, 2020
Thanks for the timely response, appreciate it

frankwu0507

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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