When sampling is from a population with standard deviation σ = 55, using a sample of size n = 150, what is the probability that will be at least 8 units away from the population mean µ?
Answer to relevant QuestionsAn auditor selected a random sample of 12 accounts from all accounts receivable of a given firm. The amounts of the accounts, in dollars, are as follows: 87.50, 123.10, 45.30, 52.22, 213.00, 155.00, 39.00, 76.05, 49.80, ...A study of the investment industry claims that 58% of all mutual funds outperformed the stock market as a whole last year. An analyst wants to test this claim and obtains a random sample of 250 mutual funds. The analyst ...Suppose that you have two biased estimators of the same population parameter. Estimator A has a bias equal to 1/n (that is, the mean of the estimator is 1/n unit away from the parameter it estimates), where n is the sample ...When sampling is for a population proportion from a population with actual proportion p = 0.5, using a sample of size n = 120, what is the standard deviation of our estimator P-hat? The proportion of defective microcomputer disks of a certain kind is believed to be anywhere from 0.06 to 0.10. The manufacturer wants to draw a random sample and estimate the proportion of all defective disks. How large ...
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