$7.00 Statistical Techniques in Business & Economics text
- From Mathematics: Statistics
- Closed, but you can still post tutorials
- Due on Oct. 31, 2009
- Asked on Nov 01, 2009 at 6:27:24PM
Q:34.) A recent survey of 50 executives who were laid off from their previous position revealed it took a mean of 26 weeks for them to find another position. The standard deviation of the sample was 6.2 weeks. Construct a 95 percent confidence interval for the population mean. Is it reasonable that the population mean is 28 weeks? Justify your answer.
54.) Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 20 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $10,979. The standard deviation of the sample was $1,000.
· Based on this sample information, develop a 90 percent confidence interval for the population mean yearly premium.
· How large a sample is needed to find the population mean within $250 at 99 percent confidence?
