Refer to Exhibit 1. What is the standard deviation of the sampling distribution of the mean annual expenditures on food away from home for the sample of 16 households?

Which of the following experiments does NOT generate a continuous random variable?

Refer to Exhibit 1. Which Excel function would you use to calculate the probability that the annual expenditures on food away from home for a randomly selected household is above $4,000?

Suppose a regional CPA firm conducted an audit for a discount chain. One part of the audit involved developing a confidence interval for the mean dollar error in total charges that occur during the checkout. A simple random sample of 35 transactions was selected which showed that the average error in the sample was $0.88 with the standard deviation of $1.12. Find the margin of error for the 85% confidence interval for the mean dollar error in total charges.

Suppose that medical expenses claimed by the taxpayers are normally distributed. A sample of 40 taxpayers claimed an average of $9,922 in medical expenses last year which produced a 95% confidence interval for the average medical expenses [$9,178.24, $10,655.76]. Which of the following statements is a valid explanation for this confidence interval?

Refer to Exhibit 2. Now, assume that the Census data is not available. Based on the sample information, you find that the 97% confidence interval for the proportion of female gun owners is [0.12, 0.23]. When interpreting this interval, you would say that:

Exhibit 2 Census data shows 26% of gun owners are female. From a random sample of 160 gun owners, 26 were females.

Which of the following statements is CORRECT regarding the width of a confidence interval for a population mean?

In an examination of purchasing patterns of shoppers, a sample of 16 shoppers revealed that they spent, on average, $54 per hour of shopping with the standard deviation of $21 per hour of shopping. Assuming that the amount spent per hour of shopping is normally distributed in the population, find the margin of error for the 90% confidence interval for the mean amount. Please consult the critical values in the table below. Recall that the subscript refers to the area on the right of the critical value in the corresponding distribution. Critical Value df Value — 1.28 — 1.645 15 1.34 15 1.75

Refer to Exhibit 2. Which of the following is a point estimate for the population proportion of female gun owners?