A random sample of 61 lunch customers was selected at a restaurant. The average amount of time the customers in the sample stayed in the restaurant was 35 minutes and the sample standard deviation equals 7.7 minutes. At a 90% level of confidence, what is the margin of error for the confidence interval? a. 1.836 b. 1.647 C. 1.563 d. 1.824 e. 1.833

A random sample of 61 lunch customers was selected at a restaurant. The average amount of time the customers in the sample stayed in the restaurant was 35 minutes and the sample standard deviation equals 7.7 minutes. At a 90% level of confidence, what is the margin of error for the confidence interval? a. 1.836 b. 1.647 C. 1.563 d. 1.824 e. 1.833

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

The nutrition label for Oriental Spice Sauce states that one package of sauce has 1030 milligrams of sodium. To determine if the label is accurate, the FDA randomly selects 130 packages of Oriental Spice Sauce and determines the sodium content. The sample has an average of 1000.15 milligrams of sodium per package with a sample standard deviation of 271.69 milligrams. Step 1 of 2 : Calculate a 95% confidence interval for the mean sodium content in Oriental Spice Sauce. Round your answers to two decimal places.
The sugar content in a one-cup serving of a certain breakfast cereal was measured for a sample of 140 servings. The average was 11.9 g and the standard deviation was 1.1 g. a. Find a 95% confidence interval for the mean sugar content. b. Find a 99% confidence interval for the mean sugar content. c. What is the confidence level of the interval (11.81, 11.99)? d. How large a sample is needed so that a 95% confidence interval specifies the mean to within±0.1? e. How large a sample is needed so that a 99% confidence interval specifies the mean to within±0.1? f. Find a 95% upper confidence bound for the mean sugar content. g. The claim is made that the mean sugar content is greater than 11.7g. With what level of confidence can this statement be made?
3. A simple random sample of 36 items resulted in a sample mean of 60 and a standard deviation of 12. Construct a 95% confidence interval for the population mean
Pop. Mean Stand. Dev. Sample size 1 73.00 10.00 6.00 14 2 62.50 8 1.Independent random samples are selected from two populations. Below are selected summary statistics. (a) Construct the 95% confidence interval for μx-µY. (b) Obtain the P-value for the alternative µx =µY.
Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 19 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $10,800, The standard deviation of the sample was $1.095. (Use LDistribution Table) a. Based on this sample information, develop a 99% confidence interval for the population mean yearly premium. (Round your answers to the nearest whole dollar amount.) Confidence interval for the population mean yearly premium is and between
2. The average hour spent in computer by 20 senior high school students during online class is 7 hours with a standard deviation of 2 hours. Construct a 98% confidence interval of the average hour spent by all senior high school students. Identify the width of the interval. 20
What can I do (Application) Determine what is asked based on the given data below. 1. A study was conducted to determine the average salary of a teacher. With this, 81 teachers were invited as samples. It was known that the mean salary of these sample teachers is P24,000 with a standard deviation P1,000. Construct a 90% confidence interval estimate for the average salary of all teachers.
Question: Godrej soap manufacturing company was distributing a particular brand of soap through a large number of retail shops. Before a heavy advertisement campaign, the mean sales per week per shop was 140 dozens. After the campaign, a sample of 26 shops was taken and the mean sales was found to be 147 dozens with standard deviation 16. Can you consider the advertisement effective?
A chemist measures the haptoglobin concentrations (in grams per liter) in the blood of eight healthy adults. The mean and standard deviation of the haptoglobin concentrations (in grams per liter) are 1.615 and 1.387 respectively. Obtain a 90% confidence interval for the mean haptoglobin concentration in adults.
A sample of 81 observations is taken from a normal population with a standard deviation of 6.The sample mean is 41. Determine the 99% confidence interval for the population mean.
a news paper ad for a manager trainee position contained the statement "our manager trainee have a first year earnings average of $30000 to $40000.Do you think that the ad is describing a confidence interval
8.1.2 If X = 148, o = 27, and n = 30, construct a 99% confidence interval estimate of the population mean, u. (Round to two decimal places as needed.)