Chap 6 HW.docx - 6.39 A The population from which the random sample was drawn is the Forbes 216 Biggest Private Companies B Mean= 111.5 billion 15= 7.43

# Chap 6 HW.docx - 6.39 A The population from which the...

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6.39: A) The population from which the random sample was drawn is the Forbes 216 Biggest Private Companies. B) Mean= 111.5 billion/ 15= 7.43 C) We are 98% confident that the mean revenue is between 2.44 billion and 12.42 billion. D) The population must approximately have a normal distribution for the estimation procedure in part B to be appropriate E) Yes, the claim is believable because 5 billion falls between the confidence interval computed in part B. 6.47: A) P^= x/n= 818/2045= .4 B) the sampling distribution is large because np^= 2045 (.4)= 818 and nq^= 2045 (.6)= 1,227, both are greater than 15. C) P^ +/- Z.025= ¿ p ¿ = .4 +/- 1.96 ( .4 ) ( .6 )/ 2045 = .4 +/- .021= (.379, .421) D) We are 95% confident that proportion of homes with market values that are over estimated by 10%

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