A random sample of 10 houses heated with natural gas in a particular area, is selected, and the amount of
Question:
.png){kind=small}
a. Let µJ denote the average gas usage during January by all houses in this area. Compute a point estimate of µJ.
b. Suppose that 10,000 houses in this area use natural gas for heating. Let t denote the total amount of gas used by all of these houses during January. Estimate t using the given data. What statistic did you use in computing your estimate? 10,0001x2 5 1,206,000
c. Use the data in Part (a) to estimate p, the proportion of all houses that used at least 100 therms.
d. Give a point estimate of the population median usage based on the sample of Part (a). Which statistic did you use?
This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!
Step by Step Answer:
a The value of J is estimated using x 103 L 99 10 1…View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
1+ Reviews
10+ Question Solved
Related Book For 
Statistics The Exploration & Analysis Of Data
ISBN: 9780840058010
7th Edition
Authors: Roxy Peck, Jay L. Devore
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes.
* Average response time.
Question Posted: September 19, 2015 04:17:49