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Subject:
Statistics Help
Category: Business and Money Asked by: rubsi-ga List Price: $4.50 |
Posted:
08 May 2005 18:47 PDT
Expires: 09 May 2005 12:47 PDT Question ID: 519338 |
The following information is provided: average weekly earnings of $750, a standard deviation of $40 and a sample size of 64, what is the probability that the sample mean will be less than $740? Dell has determined that the average repair time for a PC is 130 minutes with a standard deviation of 26 minutes. If a random sample of 40 services is selected, what is the probability that the sample of 40 will have a mean service time less than 136 minutes? At ABC University, 40% of students live in the dormitory. If a random sample of 80 students is selected, what is the probability that the sample proportion is less than .30? Macy?s in Persia Mall conducted a random sample of 81 credit sales. It showed an average sale of $68.00. From past data it is known that the standard deviation of the population is $27.00. Construct a 99% confidence interval estimate of the population mean: GIGO Computer Services, Inc. wants to determine a 92% confidence interval for the average CPU time of their processing transactions. A sample of 144 transactions produced a mean of 0.20 seconds and a standard deviation of .05. Construct a 92% confidence interval for the average processing time. I have more small problems, I will be posting them once I get answer to the above questions. |
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There is no answer at this time. |
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Subject:
Re: Statistics Help
From: endersgame-ga on 08 May 2005 23:08 PDT |
Question 1: This is your typical normal distribution problem. sigma is 40, mu is 750. To solve it, you need to convert from this distribution to the standard normal. The way to do this is with the formula: z=(x-bar - mu)/(sigma/sqrt(n)) So, Prob(x-bar<740) = Prob(z< (740-750)/(40/sqrt(64)) =Prob(z< -10/5) = Prob (z<-2) = .0228 Question 2: This follows the exact same format of Question 1. Prob(x-bar<136) = Prob(z<(136-130)/(26/sqrt(4)) =Prob(z<1.46) = .9279 Question 3: This sounds like it would be again the same format, but there's no standard deviation given. As it is, I don't believe it can be answered. Question 4: Confidence intervals are much like the prevoius questions. Comparing the formulas should show you this. CI: x-bar + or - z*(sigma/sqrt(n)) Z coems from the normal table. Find a value for z that gives you a probability equal to the desired confidence interval. Here, this gives 68 +- 2.575*(27/sqrt(80) = 68 +- 7.77 Question 5: Here, since the standard deviation came from the data, rather than being a known number, you need to use a t-test. Again, compare this formula with the one in question 1 and you will see the similarities. CI: x-bar +- t(s/sqrt(n)) where s is the estimated standard deviation (Note: standard t-distribution tables do not give a value for 92%, I estimated this using 90% and 95%) Here this gives: .2 +- 1.82(.05/sqrt(144)) = .2+-.0076 Posting 5 questions for such a small value is a bit much. You may want to increase your price if you plan to post another large set. Also, when questions all have the same format, it'd be useful if you simply asked one, and used the answer given to figure out the rest. |
Subject:
Re: Statistics Help
From: rubsi-ga on 09 May 2005 08:15 PDT |
Hi, Thank you very much for your help. It is my first time using Google-answers site so I am not too familiar with the process. I just posted the first set of questions to see whether the site works or not. I have 15 more small problems and if you interested in solving them, please let me know and I don't know how the payment process works with this site and which party is getting paid, so I would appreciate your comments on that. I actually don't know much about statistics. I have just been reading my daughter's book to help her. She is weak in this subject so I am trying to help her and see if she is answering her assigned problems properly. She gets one homework set per week consisting 20 problems but I don't have the time myself to sit down and figure them out on my own. Plese let me know if I can post the other 15 problems. |
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