An analyst from an energy research institute in California wishes to estimate the 85% confidence interval for the average price of unleaded gasoline in the state. In particular, she does not want the sample mean to deviate from the population mean by more than $0.05. What is the minimum number of gas stations that she should include in her sample if she uses the standard deviation estimate of $0.31, as reported in the popular press?
An analyst from an energy research institute in California wishes to estimate the 85% confidence interval...
An analyst from an energy research institute in California wishes to estimate the 99% confidence interval for the average price of unleaded gasoline in the state. In particular, she does not want the sample mean to deviate from the population mean by more than $0.13. What is the minimum number of gas stations that she should include in her sample if she uses the standard deviation estimate of $0.35, as reported in the popular press?
An analyst from an energy research institute in California wishes to estimate the 99% confidence interval for the average price of unleaded gasoline in the state. In particular, she does not want the sample mean to deviate from the population mean by more than $0.13. What is the minimum number of gas stations that she should include in her sample if she uses the standard deviation estimate of $0.35, as reported in the popular press? (You may find it useful...
a. An analyst from an energy research institute in California wishes to estimate the 95% confidence interval for the average price of unleaded gasoline in the state. In particular, she does not want the sample mean to deviate from the population mean by more than $0.06. What is the minimum number of gas stations that she should include in her sample if she uses the standard deviation estimate of $0.35, as reported in the popular press? Round intermediate calculations to...
Part 1). A pension analyst wishes to estimate the mean age at which federal employees retire. What sample size is needed if the analyst desires that the width of the confidence interval for a 95% CI for the true mean age is not greater than 1 year? (Based on previous studies, she assumes the population standard deviation is 3.5.) Part 2). After completing this calculation, the analyst wishes to understand how different factors influence the sample size calculation for this...
A pizza shop owner wishes to find the 95% confidence interval of the true mean cost of a large plain pizza. How large should the sample be if she wishes to be accurate to within S0.16? A previous study showed that the standard deviation of the price was $0.31. The owner needs at least a sample of pizzas.
A market research company wishes to know how many energy drinks adults drink each week. They want to construct a 85% confidence interval for the mean and are assuming that the population standard deviation for the number of energy drinks consumed each week is 0.8. The study found that for a sample of 159 adults the mean number of energy drinks consumed per week is 7.6. Construct the desired confidence interval. Round your answers to one decimal place. LOWER ENDPOINT???...
A construction engineer wanted to conduct research study and wishes to estimate, with 90% confidence, the proportion of people living in metro manila who own a home built by a constructor. A previous study showed that 35% of those interviewed had their houses built by a construction firm. The engineer wishes to be accurate within 2.5% of the true proportion. Find the minimum sample size necessary.
An analyst for a large national credit union wishes to estimate the mean checking account at the institution. He selected a random sample of 40 accounts and used the data to calculate the following 90% confidence interval for the mean checking account balance at the institution: $2183 < u < $3828. Interpret this confidence interval. If we took random samples of checking accounts at this credit union, about nine out of ten of them would produce this confidence interval. We...
3. The Pew Research Center wishes to estimate the proportion of adults who are aware of Instagram. How many adults must the marketing firm randomly survey if they want to be 96% confident that the proportion of adults who are aware of Instagram is within 3% of the true proportion of adults who are aware of Instagram? Enter answer 4 The mean age of a sample of 40 college students is 23.95 with a standard deviation of 2.55. Assume that...
A data analyst wants to construct a confidence interval to estimate the true mean dollar amount spent per visit by a “typical” Toys-R-Us customer. Based on extensive industry data, the analyst knows that the population variance is 28.9444. The analyst draws a simple random sample of 144 recent customer cash register receipts and records the dollar amount spent on each receipt. There is a 5% chance (i.e., the probability is .05) that the resulting sample mean will have a margin...