Lecture12 - Stat 350 Lecture 12 Chapter 7.1 Point Estimation Announcement Exam 1 Covers Lecture 1 12 Homework 1 4 Date Wednesday Time 6:30 PM 7:30

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Stat 350 Lecture 12 Chapter 7.1: Point Estimation
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Announcement Exam 1 Covers: Lecture 1 12, Homework 1 4 Date: Wednesday, February 16 2011 Time: 6:30 PM 7:30 PM Place: LYNN 1136 You may bring: 1 page (8 in x 11 in) single sided handwritten crib sheet Calculator: same calculator policy as SAT test http://sat.collegeboard.com/register/sat-test-day-checklist
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Example on Sample Proportion Suppose that 35% of all software engineers are willing to switch companies if offered a higher salary. If a headhunter randomly contacts an SRS of 100 software engineers, what is the probability that over 40% will be willing to switch company if offered a higher salary?
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Example Suppose that 35% of all software engineers are willing to switch companies if offered a higher salary. If a headhunter randomly contacts an SRS of 100 software engineers, what is the probability that over 40% will be willing to switch company if offered a higher salary? Solution: want to know P(p>0.4) We know: π =0.35, n=100 Check n* π = 35 > 5 and n(1- π )=65 > 5 By CLT, sample proportion p is approximately normal with mean of 0.35 Sd = sqrt( 0.35*0.65/100) = 0.048 0.35 0.4 0.35 ( 0.4) ( ) 0.048 0.048 ( 1.04) 0.15 p P p P PZ 
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Example (ex 55 on page 238) Only 7% of a large population of 100-ohm goldband resistors have resistances that exceed 105 ohms.
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This note was uploaded on 02/06/2012 for the course STAT 350 taught by Professor Staff during the Spring '08 term at Purdue University-West Lafayette.

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Lecture12 - Stat 350 Lecture 12 Chapter 7.1 Point Estimation Announcement Exam 1 Covers Lecture 1 12 Homework 1 4 Date Wednesday Time 6:30 PM 7:30

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