Quiz 4 sp 07 key - close to the total limit on the cards....

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ECON 2843 Name KEY Quiz 4 Spring 2007 ID # Students must show all work on problems that involve calculation. 1. Toolworkers are subject to work-related injuries. One disorder, caused by strains to the hands and wrists, is called carpal tunnel syndrome. It strikes as many as 23,000 workers per year. The U.S. Labor Department estimates that the average cost of this disorder to employers and insurers is approximately $30,000 per injured worker. Suppose these casts are normally distributed, with a standard deviation of $9,000. If 20 such injured workers are randomly selected, what is the probability that the sample standard deviation will be less than $12,826? a. .005 b. .010 c. .025 d. .975 e. .990 f. .995 * 2. Refer to question 1. There is a 10% probability that the sample standard deviation will be less than what number? $7,047.40 1
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3. According to a study by Decision Analyst, 21% of the people who have credit cards are very
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Unformatted text preview: close to the total limit on the cards. Suppose a random sample of 600 credit card users is taken. What is the probability that more than 150 credit card users in the sample are very close to the total limit on their cards? .0080 Probability = 4. Refer to question 3. What is the probability that the sample proportion will be between 18% and 23%? .8490 5. a. If the expected value of the estimator a is equal to the value of the parameter , then a is said to be unbiased . b. If an estimator a is the most efficient of all the estimators under consideration, then a has a smaller variance than do all of the rest of the estimators. c. If for any positive number , P[ a- < ] 1 as the sample size becomes very large, then a is said to be 2 consistent . 3...
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Quiz 4 sp 07 key - close to the total limit on the cards....

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