HW2sp07solns

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BUAD 310 HW2 Solns BUAD 310 Homework 2 Solutions due Friday, February 16, 2007 in class From Textbook: p. 259  #6.7 Soln:  a)  2 10 0 16 0 4 x x x , . , . μ = σ = σ = b)  2 500 0 0025 0 05 x x x , . , . μ = σ = σ = c)  2 3 0 0025 0 05 x x x , . , . μ = σ = σ = d)  2 100 0 000625 0 025 x x x , . , . μ = σ = σ = p. 259 #6.10 Soln: The sampling distribution of the sample mean will be normal with  12 4 20 6 5 9 21 μ = σ = = x x . , . . . A 95.44% interval is  ( 29 ( 29 [ ] 12 4 2 9 21 6 02 30 82 1 = - . . . , . . p. 260  #6.13 Soln: a)  ( 29 ( 29 1 5 1 4 1 5 0 7692 0 5 0 2794 0 2206 1 3 100 . . P x . P Z P Z . . . . . - = = = - = b)  ( 29 ( 29 1 5 1 0 1 5 2 778 0 5 0 4973 0 0027 1 8 100 . . P x . P Z P Z . . . . . - = = = - = c) Yes, if it is really the case that the mean is 1.0 days, then only 0.27% of the time would  we see an average of 1.5 days. So perhaps the mean of 1.0 has changed. p. 278  #7.5, do parts a, b, and e only Soln: a)  [ ] 0 025 2 50 1 96 49 608 50 392 100 . s x z . . , . n = = b)  [ ] 0 005 2 50 2 575 49 485 50 515 100 . s x z . . , . n = = e)  [ ] 0 00135 2 50 3 49 4 50 6 100 . s x z . , . n = = p. 278 #7.8 Soln: a) (each of these parts is worth 2 pts) 95% CI:  [ ] 2 6424 42 95 1 96 42 308 43 592 65 1 = . . . . , .     99% CI:  [ ] 2 6424 42 95 2 575 42 106 43 794 65 1 = . . . . , . Page 1

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BUAD 310 HW2 Solns b) Yes. The interval is entirely above 42.
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