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Unit 3: Sampling & Estimation Introduction: The Scuba Problem Generating Random Samples How to Create a Representative and Unbiased Sample...

This question was answered on Dec 30, 2012. View the Answer
Correct the following on my excel HW
Tab 2---Mathematical process and interpretation should be located outside the question text-box. I should be able to click on each respective answer and see the mathematical process in the fx-bar. Part of the grade on the course final is assigned to the actual mathematical performance. I recommend using the NORMDIST function for 2a. 2b--You are striving to attain the probability between two amounts; therefore, you would subtract Normdist results for 300 and 180. 2C— I recommend using the NORMINV function.

Tab 3---I should be able to click on the answer and see the process preformed in the FX bar. One method is to attain a z-value using the formula (Z = ( Xbar - µ )/ ( σ/sqrt(n)) and then standardize the z-value by using the NORMSDIST function in excel and subtract the result from 1 (1-NORMSDIST(z)) or you can use the NORMDIST function. You will need X, which is the value for which you want the distribution, the arithmetic mean of the distribution, the STD DEV of x-bars(= σ/sqrt(n)), and for Cumulative, you can either enter True or 1.--- Then 1-NORMDIST(X, Mean, STDEV, Cumulative). Both Methods produce the same result.


Tab 5---I should be able to click on each respective limit and see the process in the fx-bar. I recommend using the Confidence interval utility n>= 30 (Proportions) found in the "briefcase" as well as the tutorial had students working with this utility. Copy and paste only the specific utility used to the homework. You will need n, p-bar, and confidence level for the input.
Unit 3: Sampling & Estimation James Punday Introduction: The Scuba Problem FIU ID#4606941 Generating Random Samples How to Create a Representative and Unbiased Sample Taking a Random Sample Sample Size Learning about a Sample Response Rates Summary Classic Sampling Mistakes Solving the Scuba Problem (Part I) Exercise 1: The Bell Computer Problem Exercise 2: The Wave Problem Challenge: The Airport The Population Mean The Scuba Problem II Using Confidence Intervals Summary The Normal Distribution The z-statistic Summary Using Excel's Normal Functions Using the z-table Practice with Normal Curves The Central Limit Theorem Definition Summary Illustrating Uniform Bimodal Skewed Confidence Intervals Estimating a Population Mean II Summary Finding a Confidence Interval Wine Lover's Magazine Obtaining the z-value Summary Using Small Samples Finding the t-value The Good Ship Demiurgos Summary Choosing a Sample Size Summary Step-by-Step Guide Summary Excel Utility Solving the Scuba Problem II Exercise 1: The Veetek VCR Gambit Exercise 2: Pulluscular Pig Disorder Proportions The Customer Response Problem Confidence Intervals And Proportions Sample Size Finding a Preliminary Estimate of p-bar Summary Solving the Customer Response Problem Exercise 1: GMW Automotive Exercise 2: Crown Toothpaste Challenge: OOPS! Package Deliveries At left you will see an outline of the topics covered in Unit 3: Sampling and Estimation. There are five homework problems associated with this unit; one for each major area. There is one tab for each problem in this workbook. Once you have completed the unit online, you should attempt these problems and submit them to your coach for assessment and feedback.
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Time 73 19 Data 16 64 Mean 43.8888888889 28 Standard Error 4.8658157942 28 Median 45 31 Mode 17 90 Standard Deviation 25.2835205273 60 Sample Variance 639.2564102564 56 Kurtosis -0.9040732236 31 Skewness 0.5172675307 56 Range 76 22 Minimum 16 18 Maximum 92 45 Sum 1185 48 Count 27 17 Confidence Level(95.0%) 10.0018275098 17 17 The t value will be for 25 degrees of freedom & 95% which is 2.06 <------------- [Degree of freedom calculation = N1 - 2 (27 - 2 = 25)] 91 So the interval will be Level of Significance Two Tailed Test: 0.05 92 53.9124694249 Upper 63 33.8653083529 Lower 50 51 69 We can be 95% sure that the population mean lies within between 33.86 and 53.91. 16 17 The formula is sample mean ± Standard Error * critical t value The data at left represents a sampling of 27 insurance claims from the Coral Gables office of the insurance firm of Justin Case. The time Justin took to resolve these 27 claims (in days) is given here. Q-1a: Create a 95% confidence interval for the mean time to resolve insurance claims at the firm. Your answer should include the upper and lower limit.
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Hi Hulk2002, I have shown all the required values in Fx bar and... View the full answer

8417156.xlsx

Unit 3: Sampling &amp; Estimation
Introduction: The Scuba Problem
Generating Random Samples How to Create a Representative and Unbiased Sample
Taking a Random Sample
Sample Size
Learning about a...

This question was asked on Dec 28, 2012 and answered on Dec 30, 2012.

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