A market researcher selects a simple random sample of n = 100 Twitter users from a population of over 100 million Twitter registered users. After analyzing the sample, she states that she has 95% confidence that the mean time spent on the site per day is between 15 and 57 minutes. Explain the meaning of this statement.
Answer to relevant QuestionsWhy can you never really have 100% confidence of correctly estimating the population characteristic of interest? The human resource (HR) director of a large corporation wishes to study absenteeism among its mid- level managers at its central office during the year. A random sample of 25 mid- level managers reveals the following: • ...Claims fraud (illegitimate claims) and buildup (exaggerated loss amounts) continue to be major issues of concern among auto-mobile insurance companies. Fraud is defined as specific material misrepresentation of the facts of ...Many consumer groups feel that the U. S. Food and Drug Administration (FDA) drug approval process is too easy and, as a result, too many drugs are approved that are later found to be unsafe. On the other hand, a number of ...In Problems 9.18 and 9.19, what are the critical values of t if the level of significance, a, is 0.05 and the alternative hypothesis, H1, is μ ≠ 50?
Post your question