Question: A simple random sample of 10 items resulted in a sample mean of 20. The population standard deviation is = 10. a. Compute the 95%

A simple random sample of 10 items resulted in a sample mean of 20. The population standard deviation is = 10.

a. Compute the 95% confidence interval for the population mean. Round your answers to one decimal place. Enter your answer using parentheses and a comma, in the form (n1,n2). Do not use commas in your numerical answer (i.e. use 1200 instead of 1,200, etc.)

b. Assume that the same sample mean was obtained from a sample of 120 items. Provide a 95% confidence interval for the population mean. Round your answers to two decimal places.

c. What is the effect of a larger sample size on the interval estimate? Larger sample provides a margin of error.

Step by Step Solution

★★★★★

3.32 Rating (152 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Answer Date 15042016 a The 95 confidence interval for the population mean is First compute zcr... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

A simple random sample of 20 items resulted in a sample mean of 20. The population standard deviation is = 2. Round your answers to two decimal places. A simple random sample of 20 items resulted in...

A simple random sample of 40 items resulted in a sample mean of 25. The population standard deviation is = 5. a. What is the standard error of the mean, x? b. At 95% confidence, what is the margin...

A simple random sample of 60 items resulted in a sample mean of 80. The population standard deviation is = 15. a. Compute the 95% confidence interval for the population mean. b. Assume that the same...

To see if there is any relationship between blood pressure and childbearing, researchers examined data from a large health survey. The following table shows the data on systolic blood pressure (mm...

Output from a software package follows: (a) Fill in the missing items. What conclusions would you draw? (b) Is this a one-sided or a two-sided test? (c) Use the normal table and the preceding data to...

In many countries around the world, the population is aging and large segments of the population are retiring or close to retirement. What effect would this have on a countries long-run aggregate...

Suppose that a quality characteristic is normally distributed with specifications at 100 20. The process standard deviation is 6. (a) Suppose that the process mean is 100. What are the natural...

Suppose that a quality characteristic is normally distributed with specifications at 120 20. The process standard deviation is 6.5. (a) Suppose that the process mean is 120. What are the natural...

The file P07_02.xlsx contains data on the 1995 students who have gone through the MBA program at State University. You can consider this the population of State Universitys MBA students. a. Find the...

For a population of five individuals, television ownership is as follows: a. Determine the probability distribution for the discrete random variable, x = number of television sets owned. Calculate...

In aqueous dispersion of charged discoid colloids at T = 20 o C a precipitate is formed when NaCl is added with a concentration of 0.01 mol / lt. Calculate the interaction energy per unit area of two...

In choosing an imputed interest rate for notes, which of the following is a relevant factor? a. The existing prime interest rate b. The note's payment schedule c. The prevailing rate for similar...

Under the profitability index method, if the profitability index is greater than one ( 1 ) , then the project is acceptable. True False

Owen Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Owen Company uses the...

Angela Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records. Instructions (a) Prepare a bank reconciliation going from...

The trial balance before adjustment of Taylor Swift Inc. shows the following balances. Instructions Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful...

First Niles Financial, Inc. is a company whose sole business is to own and operate a bank, Home Federal Savings and Loan Association of Niles, Ohio. First Niless directors include bank officers...

Refer to the information for Speedy Pete's on the previous page. Assume that this information was used to construct the following formula for monthly delivery cost. Total Delivery Cost = $41,850 +...

How does natural competence differ from artificial competence in bacteria? Select one: a. Natural competence is not specific to certain bacterial species. b. Only Bacillus spp. show natural...

\fThis is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does...

1 Executives at Mega Mart Supermarket claim that a typical family of four spends $250 weekly on routine, non-holiday, grocery purchases. According to published industry standards, the population...

The Future Government Club wants to sponsor a panel discussion on the upcoming national election. The club wants four of its members to lead the panel discussion Obtain a simple random sample of size...

1. Ann Landers, who wrote a daily advice column appearing across the country, once, asked her readers, \"if you had it to do over again, would you have children?\" Of more than 10,000 readers who...

someone please answer my question, this is the fourth time posting :( 4. The sampling distribution of the sample proportion In 2007, about 20% of new-car purchases in Florida were financed with a...

before you do anything I need to know how much is it going to cost me if i let you do all steps of these questions ? PROBLEM 1. A population of 1,000 students spends an average of $10.50 a day on...