A survey is conducted among first-time homebuyers to estimat…
A survey is conducted among first-time homebuyers to estimate the average age at which individuals purchase their first home.For a sample of 15 first-time homebuyers, the following ages (in years) were recorded: 26.5 30.2 27.8 24.3 29.1 33.7 28.4 31.9 25.6 26.8 34.1 29.7 28.9 32.5 27.3 1. Find the sample mean. Round to 2 decimal places: _______ 2. Find the sample standard deviation. Round to 4 decimal places: _______ 3. Fill in the formula blanks below with specific values for this problem (not symbols) to construct a 99% confidence interval. (a) _______ (b) _______ (c) _______ (d) _______ (e) _______ (f) _______ (g) _______ (h) _______ 4. Using the formula from part 3, calculate the 99% confidence interval. Round each answer to the nearest hundredth (2 decimal places). _______ years to _______ years. 5. Find the margin of error for this confidence interval. Do not round. _______
Read DetailsQuinnipiac University conducted a telephone survey poll of 1…
Quinnipiac University conducted a telephone survey poll of 1,795 adults 18 years and older throughout the United States. The margin of error was +/- 2.3 at the 95% confidence level. The following was published from this survey: 22% of Americans state the cost of food is their most pressing financial worry. Give a confidence interval for the percentage of all Americans who state food cost is their most pressing financial worry.
Read DetailsA study of residents in the city of Houston showed that the…
A study of residents in the city of Houston showed that the mean income for all adults is $75,000 with a standard deviation of $5,000. A randomly selected sample of these residents showed an average income of $78,000 with a standard deviation of $4,700. Are the numbers $78,000 and $4,700 statistics or parameters? Explain.
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