https://www.statcrunch.com/reports/view?reportid=110909&token=OTI3Z8%2F0N6hSC1KVw9hTXmyjHLnuZvqCMyuxkgn1QRYPhIQfDVLUFClF3Y41ShOi4C%2BMKL5%2FHgpBTXKukjWOPAhHeXkhKjKpHnRJgcGb17mIgU3d%2BrJH5Y7V5s1IegXLGcDJdqFBPA%2FHFT759elAS0wkH%2BmKlyViV4BzXK7e7ZCaPP5j3kZLSBRQ%2Fr6a0pdn7U%2BOGmzEfKRolw8GpBuYgQ%3D%3D

Question:

a.Perform the following calculation, BY HAND, and include your work (typed, equation editor, or include a picture in your document:

i.Find a 99% CI for the mean of NW quadrant (again, BY HAND!), using df=1000 on Table A-3 (the t-distribution table), make sure you state thevalue, and show the calculation to get the endpoints of the interval. (Don't forget that statcrunch has already found s for you!)

ii.Compare your answer with the one given in statcrunch. What (if any) impact did the df value have on your final answer?

b.Which quadrant had the highest overall prices in your opinion? Focusing on your summary stats only, which statistics are you using to back up your decision? Why did you choose those statistics?

c.Which quadrant had the highest variation in prices in your opinion? Focusing on your summary stats only, which statistics are you using to back up your decision? Why did you choose those statistics?

d.Looking at your proportion confidence intervals for each quadrant, which quadrant do you think has the highest proportion of goods priced above $5? Why did you choose that quadrant? Based on your results, is that quadrant guaranteed to have the highest proportion of goods priced above $5? Why or why not?

e.Looking at your confidence interval estimates of the mean, do these results reinforce your answer to part b or contradict your answer to part b? Explain your reasoning.

Answer rating: 100% (QA)

Here are the answers to the questions based on the StatCrunch output a i 99 CI for mean of NW quadra... View the full answer