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Unformatted text preview: . An insurance company estimates 45 percent of its claims have errors. The insurance company wants to estimate with 99 percent confidence the proportion of claims with errors. What sample size is needed if they wish to be within 5 percent of the actual? A. 664 B. 657 C. 163 D. 1084 AACSB: Analytic Bloom's: Application Difficulty: Hard Topic: Sample size determination for population proportion 116. In a randomly selected group of 650 automobile deaths, 180 were alcohol related. Construct a 95 percent confidence interval for the true proportion of all automobile accidents caused by alcohol. A. [.243 .311] B. [.262 .292] C. [.259 .294] D. [.263 .291] AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Confidence interval for population proportion 1-698 Chapter 01 - An Introduction to Business Statistics 117. You want to estimate the proportion of customers who are satisfied with their supermarket at α = .10 and within .025 of the true value. It has been estimated that p = .85. How large of a sample is needed? A. 1083 B. 553 C. 71 D. 336 AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Sample size determination for population proportion 118. Find a 99 percent confidence interval for µ if = 98.6, s = 2, and n = 5. Assume that the sample is randomly selected from a normally distributed population. A. [95.69 101.51] B. [95.25 101.95] C. [94.48 102.72] D. [89.39 107.81] AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Confidence interval for population mean σ unknown 1-699 Chapter 01 - An Introduction to Business Statistics 119. The customer service manager for the XYZ Fastener Manufacturing Company examined 60 vouchers and found nine vouchers containing errors. Find a 98 percent confidence interval for the proportion of vouchers with errors. A. [.147 .153] B. [.080 .220] C. [.043 .257] D. [.112 .188] AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Confidence interval for population proportion 120. The weight of a product is measured in pounds. A sample of 50 units is taken from a batch. The sample yielded the following results: = 75 lbs., but we know that σ2 = 100 lbs. Calculate a 90 percent confidence interval for . A. [73.19 76.81] B. [51.74 98.26] C. [72.67 77.33] D. [67.50 82.50] AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Confidence interval for population mean σ known 1-700 Chapter 01 - An Introduction to Business Statistics 121. The weight of a product is measured in pounds. A sample of 50 units is taken from a batch. The sample yielded the following results: = 75 lbs., but we know that σ2 = 100 lbs. Calculate a 95 percent confidence interval for . A. [71.25 78.75] B. [72.23 77.77] C. [47.28 102.72] D. [72.67 77.33] AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Confidence interval for population mean σ known 122. The weight of a product is measured in pounds. A sample of 50 units is taken from a batch. The sample yielded the following results: = 75 lbs., but we know that σ2 = 100 lbs. Calculate a 99 percent confidence interval for . A. [71.36 78.64] B. [74.25 75.75] C. [38.58 111.42] D. [71.71 78.29] AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Confidence interval for population mean σ known 1-701 Chapter 01 - An Introduction to Business Statistics 123. The 95% confidence interval for the average weight of a product is from 72.23 lbs. to 77.77 lbs. Can we conclude that = 77 using a 95 percent confidence interval? A. Yes B. No AACSB: Analytic Bloom's: Analysis Difficulty: Medium Topic: Confidence interval for population mean 124. The 99% confidence interval for the average weight of a product is from 71.36 lbs. to 78.64 lbs. Can we conclude that is equal to 71 using a 99 percent confidence interval? Briefly explain. A. Yes B. No AACSB: Analytic Bloom's: Analysis Difficulty: Medium Topic: Confidence interval for population mean 125. A sample of 2,000 people yielded proportion? A. .0056 B. .0112 C. .00012 D. .0161 = .52. What is the variance of the population AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Confidence interval for population proportion 1-702 Chapter 01 - An Introduction to Business Statistics 126. A sample of 2,000 people yielded for p. A. [.506 .534] B. [.468 .572] C. [.511 .529] D. [.502 .538] = .52. Calculate a 90 percent confidence interval AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Confidence interval for population proportion 127. A sample of 2,000 people yielded for p. A. [.509 .531] B. [.494 .546] C. [.498 .542] D. [.502 .538] = .52. Calculate a 95 percent confidence interval AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Confidence interval for population proportion 1-703 Chapter 01 - An Introduction to Business Statistics 128. A sample of 2,000 people yielded for p. A. [.515 .525] B. [.494 .546] C. [.506 .534] D. [.491 .549] = .52. Calculate a 99 percent confidence interval AACSB: Analytic Bloom's: Application Difficulty: Medium Topic: Confidence interval for population proportion 129. A random sample of size 15 is taken from a population assumed to be normal, and 1.2 and s = 0.6. Calcul...
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