MATHEMATICS

b. Construct the 80% confidence interval for the population mean. (Round “t” value to 3 decimal places, and final answers to 2 decimal places.)

 

  Confidence interval   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252699393847628_ans3\” VALUE=\”\”>” MACROBUTTON HTMLDirect to   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252699393847628_ans4\” VALUE=\”\”>” MACROBUTTON HTMLDirect

 

c. Construct the 90% confidence interval for the population mean. (Round “t” value to 3 decimal places, and final answers to 2 decimal places.)

 

  Confidence interval   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252699393847628_ans5\” VALUE=\”\”>” MACROBUTTON HTMLDirect to   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252699393847628_ans6\” VALUE=\”\”>” MACROBUTTON HTMLDirect

 

d. What happens to the margin of error as the confidence level increases from 80% to 90%?
   
 
  PRIVATE “<INPUT TYPE=\”radio\” NAME=\”Q_13252699393847628_ans7\” VALUE=\”0\”>” MACROBUTTON HTMLDirect As the confidence level increases, the interval becomes wider.
  PRIVATE “<INPUT TYPE=\”radio\” NAME=\”Q_13252699393847628_ans7\” VALUE=\”1\”>” MACROBUTTON HTMLDirect As the confidence level increases, the interval becomes narrower.

 

 

 

7.

The Chartered Financial Analyst (CFA®) designation is fast becoming a requirement for serious investment professionals. Although it requires a successful completion of three levels of grueling exams, it also entails promising careers with lucrative salaries. A student of finance is curious about the average salary of a CFA® charterholder. He takes a random sample of 36 recent charterholders and computes a mean salary of $158,000 with a standard deviation of $36,000. Assuming a normal distribution, use this sampleinformation to determine the 95% confidence interval for the average salary of a CFA charterholder.Use Table 2(Round intermediate calculations to 4 decimal places, “t” value to 3 decimal places, and final answers to the nearest whole number.)

 

  Confidence interval   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252700657501283_ans1\” VALUE=\”\”>” MACROBUTTON HTMLDirect to     PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252700657501283_ans2\” VALUE=\”\”>” MACROBUTTON HTMLDirect
       

 

8.

The monthly closing stock prices (rounded to the nearest dollar) for Panera Bread Co. for the first six months of 2010 are reported in the following table. Use Table 2.

 

  Months Closing Stock Price
  January 2010 $71
  February 2010 73
  March 2010 76
  April 2010 78
  May 2010 81
  June 2010 75

SOURCE: http://finance.yahoo.com.

a. Calculate the sample mean and the sample standard deviation. (Round intermediate calculations to 4 decimal places and “sample mean” and “sample standard deviation” to 2 decimal places.)

 

   
  Sample mean   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252699393847632_ans1\” VALUE=\”\”>” MACROBUTTON HTMLDirect
  Sample standard deviation   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252699393847632_ans2\” VALUE=\”\”>” MACROBUTTON HTMLDirect

 

b. Compute the 90% confidence interval for the mean stock price of Panera Bread Co., assuming that the stock price is normally distributed. (Round “t” value to 3 decimal places, and final answers to 2 decimal places.) 

 

  Confidence interval   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252699393847632_ans3\” VALUE=\”\”>” MACROBUTTON HTMLDirect to   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252699393847632_ans4\” VALUE=\”\”>” MACROBUTTON HTMLDirect

 

c. What happens to the margin of error if a higher confidence level is used for the interval estimate?
   
 
  PRIVATE “<INPUT TYPE=\”radio\” NAME=\”Q_13252699393847632_ans5\” VALUE=\”0\”>” MACROBUTTON HTMLDirect The margin of error increases as the confidence level increases.
  PRIVATE “<INPUT TYPE=\”radio\” NAME=\”Q_13252699393847632_ans5\” VALUE=\”1\”>” MACROBUTTON HTMLDirect The margin of error decreases as the confidence level increases.

9.

A random sample of 80 observations results in 50 successes. Use Table 1.

 

a. Construct a 95% confidence interval for the population proportion of successes. (Round intermediate calculations to 4 decimal places, “z” value to 2 decimal places, and final answers to 3 decimal places.)

 

  Confidence interval   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252699393895835_ans1\” VALUE=\”\”>” MACROBUTTON HTMLDirect   to   PRIVATE “<INPUT TYPE=\”text\” SIZE=\”7\” NAME=\”Q_13252699393895835_ans2\” VALUE=\”\”>” MACROBUTTON HTMLDirect

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