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Statistics for Business and Economics Study Set 2
Quiz 8: Interval Estimation
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Question 121
Short Answer
A local health center noted that in a sample of 400 patients 80 were referred to them by the local hospital. a.Provide a 95% confidence interval for all the patients who are referred to the health center by the hospital. b.What size sample would be required to estimate the proportion of hospital referrals with a margin of error of 0.04 or less at 95% confidence?
Question 122
Essay
The Highway Safety Department wants to study the driving habits of individuals. A sample of 81 cars traveling on the highway revealed an average speed of 67 miles per hour with a standard deviation of 9 miles per hour. a.Compute the standard error of the mean. b.Determine a 99% confidence interval estimate for the speed of all cars.
Question 123
Short Answer
In order to estimate the proportion of individuals who read at least one book per month, a random sample of individuals was selected and they were asked whether or not they read at least one book per month. Their responses are shown below.
Develop a 95% confidence interval for the proportion of people in the population who read at least one book per month.
Question 124
Short Answer
The average score of a sample of 87 senior business majors at UTC who took the Graduate Management Admission Test was 510 with a standard deviation of 36. Provide a 98% confidence interval for the mean of the population.
Question 125
Short Answer
The manager of a grocery store wants to determine what proportion of people who enter his store are his regular customers. What size sample should he take so that at 97% confidence the margin of error will not be more than 0.1?