Question

Part 1: Answer these three questions inside of your Word document file: 1. What is a confidence interval? 2. Provide an example of a confidence interval? 3. Why do we need confidence intervals in statistics? Additional information before your start Part 2: Please use the below formula in Excel for developing the combination calculation i.e., the number of ways of choose n numbers k at a time…The Excel formula is =COMBIN(n,k). This will tell you the number of combinations given a number n chosen k at a time. For instance, if you calculated in Excel =COMBIN(49,5) …this will calculate the number of combinations of numbers 1 thru 49 chosen 5 at a time. For instance, 1,2,3,4,5 would be one of those combinations. ] Next, come up with the Probability = 1 / (n chosen k at time ). Note that the denominator is the =COMBIN(n,k) value. Be sure to show your math work in your Word document. Therefore, if you wanted to come up with the probability of winning buy purchasing 4 lottery tickets, given a 49 number lottery where you can choose 5 numbers….here is the calculation that you need to complete: Probability of Winning ( 4 tickets) = 4 / [ COMBIN (49,5) ] Part 2 (answer these questions in your Word document using the definition of probability and the =COMBIN(n,k) formula calculations from Excel): (4) What is the Probability of winning a lottery where you choose 5 out of 49 numbers in a lottery (5) What is the Probability of winning a lottery where you choose 4 out of the 49 numbers in a lottery (6) The probability of choosing 8 of the 49 numbers in a lottery, and (7) the probability of choosing 2 out of the 49 numbers in a lottery. Please also answer the below by research on the Internet and/or using YouTube: (8) What is the difference between a confidence interval and margin of error? (9) What is the difference in calculating a confidence interval and a margin of error calculated?

Answer #1

- A confidence interval is an interval estimate of population parameters combined with a probability statement by using sample values.
- We can find the confidence interval for Population mean (µ), Population standard deviation (s), Population proportion (P) etc.
- Some time we have to make some reasonable probability statement about the unknown parameter in the population, from which the sample has been drawn. This can be done by using technique of confidence interval. Confidence intervals are about risk. They consider the sample size and the potential variation in the population and give us an estimate of the range in which the real answer lies.

Please use the below formula in Excel for developing the
combination calculation i.e., the number of ways of choose n
numbers k at a time…The Excel formula is =COMBIN(n,k). This will
tell you the number of combinations given a number n chosen k at a
time. For instance, if you calculated in Excel =COMBIN(49,5) …this
will calculate the number of combinations of numbers 1 thru 49
chosen 5 at a time. For instance, 1,2,3,4,5 would be one of those
combinations....

1. Consider a 45-ball lottery game. In total there are 45 balls
numbered 1 through to 45 inclusive. 4 balls are drawn (chosen
randomly), one at a time, without replacement (so that a ball
cannot be chosen more than once). To win the grand prize, a lottery
player must have the same numbers selected as those that are drawn.
Order of the numbers is not important so that if a lottery player
has chosen the combination 1, 2, 3, 4...

1）To win a particular lottery, your ticket must match 6 different
numbers from 1 to 50, without regard to order.
a) How many combinations are possible?
2）To win a particular lottery,
your ticket must match 6 different numbers from 1 to 50, without
regard to order.
b) To win second
prize, 5 of the 6 winning numbers must match. How many outcomes are
possible for 2nd prize?
3）A NHL committee is being formed to look into
the effect of concussions...

The local lottery is found by randomly selecting 6 ping pong
balls from a container in order without replacement. There are 30
ping-pong balls in the container numbered 0 through 29. 1.) What is
the probability you hold the winning ticket? 2.) How many tickets
should you buy to give yourself a 1% chance of winning the lottery?
A 10% chance? A 25% chance? A 50% chance? 3.) What is the
probability all 6 numbers are even? At least one...

Instructions: Ensure that the version number on
the Word file and the Excel data file match.
Type your answers in the blank areas. Save the file as “Chapter
8-9 Exam – Your Name”. Submit your completed Word file on
Blackboard under the Exam 3 Folder.
The manufacturer of a new line of ink-jet printers would like
to include as part of its advertising the number of pages a user
can expect from a print cartridge. The results from a sample...

Part A: Answer all the questions below. You are required to
number all your answers correctly and write all the necessary
solutions in your answer sheets.
1. If you would win $25 if you pulled a heart from a standard
deck of 52 cards, the Expected Monetary Value would be? Write the
implications if this bet is repeated a large number of times. [3
Marks]
2.
Ifan8-characterPINisselectedfrom0,1,2,3,4,5,6,7,8,9,X,P,Rwhatisthetotal
possible number of PINs without repetitions? [2 Marks]
3. How many total number...

hi
Read the situation below, and then answer the questions
that follow in a Word document which you will submit as Assignment
4 in the dropbox. Also post your responses in Discussion 8, in a
discussion posting.
You are the executive assistant to Bill Snoman, vice-president
of finance at Cool Air Ventilation Systems. He has just called you
into his office to discuss department spending.
Bill: There needs to be some serious expense cutting around this
place. I can't believe...

1.) The binomial formula has two parts. The first part of the
binomial formula calculates the number of combinations of X
successes. The second part of the binomial formula calculates the
probability associated with the combination of success and
failures. If N=6 and X=5, what is the number of combinations of X
successes?
2.)
I play a light game with my daughter. We have a small hand-held
projector that displays an image on the ceiling from a small
interchangeable plastic...

Part 1
Armadillos are among the most common of Florida’s roadkill
victims. A study done along the Ronald Reagan Turnpike in central
Florida found an average of 1.9 armadillo roadkills per 100 miles
during the winter, when armadillos are least active [Source: M.
Inbar and R. T. Mayer, “Spatio-temporal trends in armadillo diurnal
activity and road-kills in central Florida,” Wildlife Society
Bulletin 27, no. 3 (1999).]
It’s New Year’s Day, and you and your friends are on a road trip...

Choosing Lottery Numbers: In the Super-Mega
lottery there are 50 numbers (1 to 50), a player chooses ten
different numbers and hopes that these get drawn. If the player's
numbers get drawn, he/she wins an obscene amount of money. The
table below displays the frequency with which classes of numbers
are chosen (not drawn). These numbers came from a sample of 180
chosen numbers.
Chosen Numbers (n = 180)
1
to 10
11
to 20
21
to 30
31
to...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 12 minutes ago

asked 13 minutes ago

asked 28 minutes ago

asked 30 minutes ago

asked 36 minutes ago

asked 36 minutes ago

asked 42 minutes ago

asked 44 minutes ago

asked 50 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago