Refer to the American Economic Review (December 2008) study of college dropouts, Exercise 2.79. Recall that one
Question:
a. Give a point estimate for μ.
b. Give an interval estimate for μ. Use a confidence coefficient of .98.
c. Comment on the validity of the following statement: "98% of the time, the true mean GPA will fall in the interval computed in part b."
d. It is unlikely that the GPA values for college students who study 3 hours per day are normally distributed. In fact, it is likely that the GPA distribution is highly skewed. If so, what impact, if any, does this have on the validity of inferences derived from the confidence interval?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Statistics For Business And Economics
ISBN: 9780134506593
13th Edition
Authors: James T. McClave, P. George Benson, Terry Sincich
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