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~ CHAPTER 10
CHAPTER 10 - ESTIMATE OF ONE POPULATION MEAN
1.
A bank manager wishes to know the average yearly return on
the index funds that are sold at his branch. In a random sample of 60
of these funds he finds a mean return of 11.8%. If we assume that the
population standard deviation is 4%, estimate with 95% confidence
the mean yearly return on all their index funds.
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z 2
.90
.10
.05
z.05 = 1.645
.95
.05
.025
z.025 = 1.96
.98
.02
.01
z.01 = 2.33
.99
.01
.005
z.005 = 2.575
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b)
c)
d)
e)
f)
g)
h)
i)
j)
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3.
A consumer advocacy group is doing a large study on car rental
practices. Among other things, the consumer group would like to
estimate the mean monthly mileage, , of cars rented in the U.S. over
the past year. The consumer group plans to choose a random sample
of monthly U.S. rental car mileages and then estimate using the
mean of the sample.
Using the value 800 miles per month as the standard deviation of
monthly U.S. rental car mileages from the past year, what is the
minimum sample size needed in order for the consumer group to be
99% confident that its estimate is within 175 miles per month of ?
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002 c
003 a
004 b
005 c
006 c
007 a
008 d
009 b
010 b
011 d
012 c
013 a
014 d
015 b
016 a
017 d
018 b
019 a
020 c
021 d
022 c
10
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