prob4sol - ISMT 111 Business Statistics Simplified Solution...

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Assignment 4 Suggested Solutions ISMT 111 Business Statistics Simplified Solution for Problem Sheet 4 1. (1.6706, 63294) 2. (25.42, 36.58) 3. (69.9141, 93.0859) 4. (620.13, 8879.87). Since 0 does not included in the interval, the employee can say that there is a real difference between them. 5. (1789.38, 7410.62) 6. (a) 0.9184 (b) Point estimate p ˆ = 120 / 200 = 0.6 The point estimate is good because i. it is unbiased ii. it has small standard error, 0.0354 (c) Maximum error of estimation = 0.05816 OR 0.05698 (d) The number of additional consumers is at least = 3258 - 200 = 3058 7. (-0.2016, 0.0016) 8. min. n = 151 9. (a) (0.5377, 0.6865) (b) The interval has 95% chance that it covers the true proportion p 1 . (c) Choose p 1 = 0.5, min. n 1 is 385 (d) (-0.0308, 0.1773) (e) Since zero lies within the 95% C.I. for p 1 p 2 , we can t say that the premiere of The Cosby Show is more popular than the premiere of The X-files . 10. (a) (36.596,64.312)
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prob4sol - ISMT 111 Business Statistics Simplified Solution...

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