Chapter 6 00. The average rent in a city is $1,570 per month…

I submitted the wrong assignment how can I resend the right one?The assignment I need to submit is only 10 question.

1)***** ***** has learned from prior studies that one out of five applicants gets admitted to top MBA programs in the country. She wishes to construct her own 90% confidence interval of the acceptance rate in top MBA programs. How large a sample should she take if she does not want the acceptance rate of the sample to deviate from that of the population by more than seven percentage points? Use Table 1. (Round your intermediate calculations to 4 decimal places and "z" value to 2 decimal places. Round up your answer to the nearest whole number.) Sample size_________________
2)You need to compute a 99% confidence interval of the population mean. How large a sample should you draw to ensure that the sample mean does not deviate from the population mean by more than 2.3? (Use 6.9 as an estimate of the population standard deviation from prior studies.) Use Table 1. (Round your intermediate calculations to 4 decimal places and "z" value to 2 decimal places. Round up your answer to the nearest whole number.)Sample size____________________
3)The manager of The Cheesecake Factory in Boston reports that on six randomly selected weekdays, the number of customers served was 80, 250, 125, 170, 190, and 165. She believes that the number of customers served on weekdays follows a normal distribution. Construct a 99% confidence interval of the average number of customers served on weekdays. Use Table 2. (Round your intermediate calculations to 4 decimal places, "sample mean" and "sample standard deviation" to 2 decimal places and "t" value to 3 decimal places, and final answers to 2 decimal places.) Confidence interval ________ to _____
4)A simple random sample of 18 observations is derived from a normally distributed population with a known standard deviation of 3.2.
a. Is the condition that formula76.mml is normally distributed satisfied? Yes No
b. Compute the margin of error with 95% confidence. (Round your intermediate calculations to 4 decimal places, "z" value and final answer to 2 decimal places.) Margin of error _________
c. Compute the margin of error with 90% confidence. (Round your intermediate calculations to 4 decimal places, "z" value and final answer to 2 decimal places.) Margin of error__________
d. Which of the two margins of error will lead to a wider interval
The margin of error with 95% confidence.
The margin of error with 90% confidence.
5)A hair salon in Cambridge, Massachusetts, reports that on seven randomly selected weekdays, the number of customers who visited the salon were 83, 46, 38, 34, 47, 42, and 48. It can be assumed that weekday customer visits follow a normal distribution.
a. Construct a 90% confidence interval of the average number of customers who visit the salon on weekdays. (Round your intermediate calculations to 4 decimal places, "sample mean" and "sample standard deviation" to 2 decimal places and "t" value to 3 decimal places, and final answers to 2 decimal places.) Confidence interval to
b.Construct a 99% confidence interval of the average number of customers who visit the salon on weekdays. (Round your intermediate calculations to 4 decimal places, "sample mean" and "sample standard deviation" to 2 decimal places and "t" value to 3 decimal places, and final answers to 2 decimal places.) Confidence interval to
c.What happens to the width of the interval as the confidence level increases?
As the confidence level increases, the interval becomes wider and less precise.
6)A random sample of 270 observations results in 176 successes.
a.Calculate the point estimate of the population proportion of successes. (Round your answer to 2 decimal places.) Point estimate
b.Calculate the point estimate of the population proportion of failures. (Round your answer to 2 decimal places.)Point estimate
7)A random sample of eight drugstores shows the following prices (in $) of a popular pain reliever: 3.21 3.48 3.14 3.25 3.14 3.33 3.16 3.27
Calculate the point estimate of the population mean price for the pain reliever. (Round your answer to 2 decimal places.) Point estimate $
8)A random sample of 100 observations results in 70 successes.
a.Construct a 95% confidence interval of the population proportion of successes. (Round your intermediate calculations to 4 decimal places, "z" value to 2 decimal places, and final answers to 3 decimal places.)Confidence interval to
b.Construct a 95% confidence interval of the population proportion of failures. (Round your intermediate calculations to 4 decimal places, "z" value to 2 decimal places, and final answers to 3 decimal places.) Confidence interval to
9)The monthly closing stock prices (rounded to the nearest dollar) for Panera Bread Co. for the first six months of 2010 are reported in the following table.
Months Closing Stock Price
January 2010 $200
February 2010 205
March 2010 208
April 2010 207
May 2010 209
June 2010 204
a.Calculate the sample mean and the sample standard deviation. (Round your intermediate calculations to 4 decimal places and "sample mean" and "sample standard deviation" to 2 decimal places).
Sample mean Sample standard deviation
b.Compute the 90% confidence interval of the mean stock price of Panera Bread Co., assuming that the stock price is normally distributed. (Round "t" value to 3 decimal places, and final answers to 2 decimal places.) Confidence interval to
c.What happens to the margin of error if a higher confidence level is used for the interval estimate?
The margin of error increases as the confidence level increases.
10)A random sample of 15 observations is used to estimate the population mean. The sample mean and the sample standard deviation are calculated as 152.5 and 28.9, respectively. Assume that the population is normally distributed.
a.Construct a 95% confidence interval of the population mean. (Round your intermediate calculations to 4 decimal places, "t" value to 3 decimal places, and final answers to 2 decimal places.)Confidence interval to
b.Construct a 99% confidence interval of the population mean. (Round your intermediate calculations to 4 decimal places, "t" value to 3 decimal places, and final answers to 2 decimal places.)Confidence interval to
c.Use your answers to discuss the impact of the confidence level on the width of the interval.
As the confidence level increases, the interval becomes wider.

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