Chapter 7 Practice Problems

Chapter 7 Practice Problems - d. What is the effect of...

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Chapter 7: Practice Problems Q1. Business Week reports that its subscribers who plan to purchase a new vehicle plan to spend a mean of $27,100 ( Business Week , Subscriber Profile, 1996). Assume that the new vehicle price for the population of Business Week subscribers has a mean of $27,100 and a standard deviation of $5,200. a. Write the sampling distribution of for a sample of size n . b. What is the probability that the sample mean new vehicle price for a sample of 50 subscribers is within of the population mean? c. What is the probability that the sample mean new vehicle price for a sample of 100 subscribers is within of the population mean?
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Unformatted text preview: d. What is the effect of increasing the sample size from 50 to 100? Why is it so? Q2. The Institute for Womens Policy Research reported that women constitute 37% of all union members. Suppose the population proportion of women who are union members is 0.37, and a simple random sample of 500 union members is selected. a. Write the sampling distribution of b. What is the probability that the sample proportion will be within of the population proportion? c. What is the probability that the sample proportion will be within of the population proportion? d. Why the answers to (b) and (c) are different?...
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Chapter 7 Practice Problems - d. What is the effect of...

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