Research of selling prices for used two-year-old Corvettes reveals that they have a standard deviation of $2157 (based on data from Edmunds.com). How many selling prices must you obtain in order to estimate the mean selling price of these cars? Assume that you want 98% confidence that your sample mean is within $250 of the population mean. Is it likely that you will find that many two-year-old used Corvettes in your region?
Answer to relevant QuestionsYou want to estimate the mean amount of time Internet users spend on Facebook each month. How many Internet users must be surveyed in order to be 95% confident that your sample mean is within 15 minutes of the population ...Use the earthquake magnitudes listed in Data Set 16 from Appendix B and construct a 99% confidence interval estimate of the mean of all such magnitudes. Find the sample size required to estimate the population mean. Finite Population Correction Factor If a simple random sample of size n is selected without replacement from a finite population of size N, and the sample size is more than 5% of the population size (n > 0.05N), better ...EarthquaTe Magnitufes 95% confidence; n = 50, s = 0.587. Use the given information to find the number of degrees of freedom, the critical values X2L and X2R, and the confidence interval estimate of s. The samples are from ...Refer to Data Set 21 in Appendix B and use the weights of the post-1983 pennies to construct a 98% confidence interval estimate of the standard deviation of the weights of all post-1983 pennies.
Post your question