We want to estimate the mean IQ score on the Stanford-Binet test for the population of college
Question:
a. Using a standard deviation of 16, how many college students must we randomly select for IQ tests if we want to have 95% confidence that the sample mean is within 3 IQ points of the population mean?
b. How is our estimate of the mean IQ of college students affected if the sample size is larger than necessary? Smaller than necessary?
c. Is the actual standard deviation of IQ scores for college students likely to be equal to 16, more than 16, or less than 16? Explain. If we used the actual value instead of 16 in part a, how would the answer to part be affected? Would it be the same, smaller, or larger?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a b If the sample size is larger than necessary th...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
65+ Reviews
86+ Question Solved
Related Book For 
Statistical Reasoning for Everyday Life
ISBN: 978-0321817624
4th edition
Authors: Jeff Bennett, Bill Briggs, Mario F. Triola
Question Posted:
