Question

Small Mean Problem. Grandfather clocks have a particular market in auctions.   You are given a random...

Small Mean Problem. Grandfather clocks have a particular market in auctions.   You are given a random sample of 20 purchases of grandfather clocks at auctions in Pennsylvania. The sample statistics are:

  • Mean = $1,343.04
  • Std Dev = $414.04
  • C.V. = 30.83
  • N = 20

You are asked to create a 90% Confidence Interval around the price for this sample.  

The BOE for this confidence interval is? I just want the answer. Use 3 decimal places for your answer and use the proper rules of rounding.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The BOE for this confidence interval is = Margin of error = 160.233

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Small Mean Problem. Grandfather clocks have a particular market in auctions.   You are given a random...
Small Mean Problem. Grandfather clocks have a particular market in auctions.   You are given a random sample of 20 purchases of grandfather clocks at auctions in Pennsylvania. The sample statistics are: Mean = $1,343.04 Std Dev = $414.04 C.V. = 30.83 N = 20 You are asked to create a 90% Confidence Interval around the price for this sample.   The t-value you would use is? I just want the answer. Use 3 decimal places for your answer and use the...
1) Small Mean Problem. Grandfather clocks have a particular market in auctions. You are given a...
1) Small Mean Problem. Grandfather clocks have a particular market in auctions. You are given a random sample of 21 purchases of grandfather clocks at auctions in Pennsylvania. The sample statistics are: Mean = $1,343.04 Std Dev = $414.04 C.V. = 30.83 N = 20. You are asked to create a 90% Confidence Interval around the price for this sample. The BOE for this confidence interval is?
1) You measure 28 turtles' weights, and find they have a mean weight of 75 ounces....
1) You measure 28 turtles' weights, and find they have a mean weight of 75 ounces. Assume the population standard deviation is 14.2 ounces. Based on this, construct a 99% confidence interval for the true population mean turtle weight. Give your answers as decimals, to two places ± ± ounces 2) Assume that a sample is used to estimate a population mean μ μ . Find the margin of error M.E. that corresponds to a sample of size 7 with...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT