Question

Each member of a random sample of 20 business economists was asked to predict the rate...

Each member of a random sample of 20 business economists was asked to predict the rate of inflation for the coming year. Assume that the predictions for the whole population of business economists follow a normal distribution with standard deviation 1.6​%.

a. The probability is 0.025 that the sample standard deviation is bigger than what​ number?

b. The probability is 0.001 that the sample standard deviation is less than what​ number?

c. Find any pair of numbers such that the probability that the sample standard deviation that lies between these numbers is 0.95.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Each member of a random sample of 17 business economists was asked to predict the rate...
Each member of a random sample of 17 business economists was asked to predict the rate of inflation for the coming year. Assume that the predictions for the whole population of business economists follow a normal distribution with standard deviation 2.5​%. a. The probability is 0.001 that the sample standard deviation is bigger than what​ number? b. The probability is0.05 that the sample standard deviation is less than what​ number? c. Find any pair of numbers such that the probability...
The US small business administration (SBA) provides information on the number of small business for each...
The US small business administration (SBA) provides information on the number of small business for each metropolitan area in the US. We know the population distribution is normal with a mean of 12,485 and a standard deviation of 21'937. a) Find the probability that a random city will have more than 17000 business. b) Find the probability that a random sample of size n=36 cities will have a mean number of small businesses greater than 17'000 c) Find the 90...
A random sample of 172 finance students was asked to rate, on a scale from 1...
A random sample of 172 finance students was asked to rate, on a scale from 1 (not important) to 5 (extremely important), insurance benefits as a job characteristic. The sample mean rating was 3.31, and the sample standard deviation was 0.70. Test at the 1% significance level the null hypothesis that the population mean rating is at most 3.0 against the alternative that it is larger than 3.0. A) Obtain the lower bound of a 99% confidence interval for the...
Each person in a random sample of 226 male teenagers and a random sample of 303...
Each person in a random sample of 226 male teenagers and a random sample of 303 female teenagers was asked how many hours he or she spent online in a typical week. The sample mean and standard deviation were 15.1 hours and 11.3 hours for males and 14.1 and 11.8 for females. (Use a statistical computer package to calculate the P-value. Use μmales − μfemales. Round your test statistic to two decimal places, your df down to the nearest whole...
A random sample of 5 college women was asked for their own heights and their mothers'...
A random sample of 5 college women was asked for their own heights and their mothers' heights. The researchers wanted to know whether the college women are taller on average than their mothers. The results (in inches) follow: Pair 1 2 3 4 5 Daughter 67 66 70 69 67 Mother 61 61 61 64 63 Let d = daughter's height - mother's height, and let μd represent the average height difference of daughter-mother pairs. What is the sample mean...
A random sample of 5 college women was asked for their own heights and their mothers'...
A random sample of 5 college women was asked for their own heights and their mothers' heights. The researchers wanted to know whether the college women are taller on average than their mothers. The results (in inches) follow: Pair 1 2 3 4 5 Daughter 65 68 67 66 63 Mother 65 65 67 66 66 Let d=d= daughter's height - mother's height, and let μdμd represent the average height difference of daughter-mother pairs. What is the sample mean of...
On each trial of a digit span memory task, the participant is asked to read aloud...
On each trial of a digit span memory task, the participant is asked to read aloud a string of random digits. The participant must then repeat the digits in the correct order. If the participant is successful, the length of the next string is increased by one. For instance, if the participant repeats four digits successfully, she will hear five random digits on the next trial. The participant’s score is the longest string of digits she can successfully repeat. A...
You are asked to do a study of shelters for abused and battered women to determine...
You are asked to do a study of shelters for abused and battered women to determine the necessary capacity I your city to provide housing for most of these women. After recording data for a whole year, you find that the mean number of women in shelters each night is 250 , with a standard deviation of 75 . Fortunately, the distribution of the number of women in the shelters each night is normal, so you can answer the following...
A sample of people were asked what was the usual way that they paid for alternative...
A sample of people were asked what was the usual way that they paid for alternative modes of public transportation Their responses are recorded in the following table: Taxi Bus Rail Uber TOTAL Cash 25 25 12 15 Credit 20 10 47 67 City Pass 15 32 33 0 TOTAL (1) (5 points) Complete the contingency table, filling in the column and row totals. (2) (5 points) What is the probability that a randomly selected respondent usually pays with credit...
1.The sample mean is an unbiased estimator for the population mean. This means: The sample mean...
1.The sample mean is an unbiased estimator for the population mean. This means: The sample mean always equals the population mean. The average sample mean, over all possible samples, equals the population mean. The sample mean will only vary a little from the population mean. The sample mean has a normal distribution. 2.Which of the following statements is CORRECTabout the sampling distribution of the sample mean: The standard error of the sample mean will decrease as the sample size increases....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT