week7 - Week 7 1. Warren County Telephone Company claims in...

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Week 7 1. Warren County Telephone Company claims in its annual report that the typical customer spends $60 per month on local and long distance service. A sample of 12 subscribers revealed the following amounts spent last month. $63 $65 $64 $67 $56 $64 $67 $63 $65 $59 $53 $68 (a ) What is the point estimate of the population mean? (Round your answers to 3 decimal places. Omit the "$" sign in your response.) Population mean $ (b ) Develop a 99 percent confidence interval for the population mean. (Round your answers to 3 decimal places. Omit the "$" sign in your response.) Population mean $ and $ (c ) Is the company's claim that the "typical customer" spends $60 per month reasonable? Yes Explanation: (a) $62.833, found by $754/12. (b) Between $58.719 and 66.948, found by . 2. A sample of 10 observations is selected from a normal population for which the population standard deviation is known to be 5. The sample mean is 22. (Round your answers to 3 decimal places.) (a) The standard error of the mean is . (c) The 99 percent confidence interval for the population mean is between and .
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Explanation: a. 1.581, found by c. 17.921 and 26.079, found by 22 ± 4.07933 3. An important factor in selling a residential property is the number of people who look through the home. A sample of 15 homes recently sold in the Buffalo, New York, area revealed the mean number looking through each home was 18 and the standard deviation of the sample was 7 people. Develop a 99 percent confidence interval for the population mean. (Round your answers to 2 decimal places.) Confidence interval for the population mean is between and . Explanation: Between 12.62 and 23.38, found by 4. The Fox TV network is considering replacing one of its prime-time crime investigation shows with a new family-oriented comedy show. Before a final decision is made, network executives commission a sample of 360 viewers. After viewing the comedy, 220 indicated they would watch the new show and suggested it replace the crime investigation show. (a
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This note was uploaded on 01/08/2012 for the course QM-2241 XTIB taught by Professor Stine during the Spring '09 term at Troy.

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week7 - Week 7 1. Warren County Telephone Company claims in...

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