Question

the Nellie Mae organization conducts an extensive annual study of credit carx usage by college students. for their 2004 study; they analyzed credit bureau data for a random sample of 1413 undergraduate students between the ages of 18 and 24 . they found that 76% of the students sampled held a credit card. determine this results margin of error woth 99% confidence.

Answer #1

Solution :

Given that,

n = 1413

Point estimate = sample proportion = = 0.76

1 - = 1 - 0.76 = 0.24

At 99% confidence level

= 1 - 99%

=1 - 0.99 =0.01

/2
= 0.005

Z/2
= Z0.005 = 2.576

Margin of error = E = Z / 2 * (( * (1 - )) / n)

= 2.576 (((0.76 * 0.24) / 1413)

= 0.029

Reconsider the study described in activity 16-12. The nellie mae
organization found that in random sample of 1413 undergraduate
students taken in 2004, 76% of the students sampled had a credit
card. Conduct a significance test of whether this sample result
provides strong evidence that more than 75% of all undergraduate
college students in the u.s had a credit card in 2004. Report the
hypothesis test statistic, and p value. Also check the technical
conditions of the test and summarize...

In a study about undergraduate student credit card usage, it was
reported that undergraduate students have a mean credit card
balance of $3173 (Sallie Mae, April 2009). This figure was an
all-time high and had increased 44% over the previous five years.
Assume that a current study is being conducted to determine if it
can be concluded that the mean credit card balance for
undergraduate students has continued to increase compared to the
April 2009 report. Based on previous studies,...

In a study about
undergraduate student credit card usage, it was reported that
undergraduate students have a mean credit card balance of $3173
(Sallie Mae, April 2009). This figure was an all-time high and had
increased 44% over the previous five years. Assume that a current
study is being conducted to determine if it can be concluded that
the mean credit card balance for undergraduate students has
continued to increase compared to the April 2009 report. Based on
previous studies,...

Sleep – College Students: Suppose you perform a
study about the hours of sleep that college students get. You know
that for all people, the average is about 7 hours. You randomly
select 40 college students and survey them on their sleep habits.
From this sample, the mean number of hours of sleep is found to be
6.2 hours with a standard deviation of 0.86 hours. We want to
construct a 99% confidence interval for the mean nightly hours of...

Sleep – College Students: Suppose you perform a
study about the hours of sleep that college students get. You know
that for all people, the average is about 7 hours. You randomly
select 40 college students and survey them on their sleep habits.
From this sample, the mean number of hours of sleep is found to be
6.1 hours with a standard deviation of 0.97 hours. You want to
construct a 99% confidence interval for the mean nightly hours of...

Sleep – College Students: Suppose you perform a study about
the hours of sleep that college students get. You know that for all
people, the average is about 7 hours. You randomly select 45
college students and survey them on their sleep habits. From this
sample, the mean number of hours of sleep is found to be 6.1 hours
with a standard deviation of 0.86 hours. You want to construct a
99% confidence interval for the mean nightly hours of...

Sleep – College Students: Suppose you perform a
study about the hours of sleep that college students get. You know
that for all people, the average is about 7 hours. You randomly
select 45 college students and survey them on their sleep habits.
From this sample, the mean number of hours of sleep is found to be
6.1 hours with a standard deviation of 0.97 hours. You want to
construct a 99% confidence interval for the mean nightly hours of...

Suppose you perform a study about the hours of sleep that
college students get. You know that for all people, the average is
about 7 hours. You randomly select 35 college students and survey
them on their sleep habits. From this sample, the mean number of
hours of sleep is found to be 6.2 hours with a standard deviation
of 0.97 hours. We want to construct a 99% confidence interval for
the mean nightly hours of sleep for all college...

Suppose you perform a study about the hours of sleep that
college students get. You know that for all people, the average is
about 7 hours. You randomly select 35 college students and survey
them on their sleep habits. From this sample, the mean number of
hours of sleep is found to be 6.2 hours with a standard deviation
of 0.97 hours. You want to construct a 99% confidence interval for
the mean nightly hours of sleep for all college...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 10 minutes ago

asked 11 minutes ago

asked 12 minutes ago

asked 53 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 2 hours ago