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Graded Homework 3
You have submitted this Econ 203 Homework 4 times (including this time).
You may submit this Econ 203 Homework a total of 30 times and receive full credit.
These questions cover concepts related to confidence interval estimation, material you
can find in your course packet on pages 3943.
Question #1
Please refer to example #1 on page 42 (slide 33) of your course lecture packet.
Based on the data given in the example, the 95% confidence interval for gas mileage
is given by:
32.3816
,
32.8184
And the 99% confidence interval for gas mileage is given by:
32.31251429
,
32.88748571
Item 3: Your answer is within ±0.1% of the solution  correct.
Item 4: Your answer is within ±0.9% of the solution  correct.
You received a raw score of 100% on this question.
Question #2
Now refer to example #2 on page 42 (slide 34) of your course lecture packet. Note the
changes from the previous example.
Based on the data given in the example, the 95% confidence interval for gas mileage
is given by:
32.3676
,
32.8324
And the 99% confidence interval for gas mileage is given by:
32.29408571
,
32.90591429
Item 1: Your answer is within ±0.1% of the solution  correct.
Item 2: Your answer is within ±0.9% of the solution  correct.
Item 3: Your answer is within ±0.1% of the solution  correct.
Item 4: Your answer is within ±0.9% of the solution  correct.
You received a raw score of 100% on this question.
Question #3
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View Full DocumentThis question is similar to example #3 on page 42 (slide 35) of your course packet.
Suppose we made an interval estimate for the mean of the population such as:
[124.23, 175.34]. If we realize that the true population mean is 121.32, what should
we conclude?
(Hint: 1 correct answer)
•
The procedure for interval estimation must have been done incorrectly.
•
We must use a t distribution instead of a z distribution.
•
We should first standardize the LCL and UCL and then see if they
capture the mean.
•
We could never get this result.
•
The procedure can still be valid, since we allow for a certain amount
of error.
You received a raw score of 100% on this question.
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 Spring '08
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