Author Question: A marketing research company is estimating the average total compensation of CEOs in the service ... (Read 81 times)

NguyenJ · **on:** Feb 14, 2020

Question 1

How much money does the average professional football fan spend on food at a single football game? That question was posed to 10 randomly selected football fans. The sample results provided a sample mean and standard deviation of $14.00 and $2.50, respectively. Use this information to construct a 90% confidence interval for the mean.
◦ 14 ± 1.833(2.50/

)
◦ 14 ± 1.796(2.50/

)
◦ 14 ± 1.812(2.50/

)
◦ 14 ± 1.383(2.50/

)

Question 2

A marketing research company is estimating the average total compensation of CEOs in the service industry. Data were randomly collected from 18 CEOs and the 99% confidence interval for the mean was calculated to be

Explain what the phrase "99% confident" means.
◦ 99% of the similarly constructed intervals would contain the value of the sample mean.
◦ In repeated sampling, 99% of the intervals constructed would contain μ.
◦ 99% of the population values will fall within the interval.
◦

% of the sample means from similar samples fall within the interval.

ju · **Reply #1 on:** Feb 14, 2020

A FREE account is required to view all solutions!

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.

Answer Preview

Only 25% of students answer this correctly