question archive Questions: 1) If n=325 and σ=8
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Questions:
1) If n=325 and σ=8.3 , what is the maximum error of estimate with a probability of 0.95?
2. A professor wants to use the mean of a random sample to estimate the average amount of time students take to do their homework. He wants to be able to assert with probability 0.99 that his error will be at most 15 minutes. If minutes, how large a sample will he need?
3. In conducting a hypothesis test, the procedure always assumes that?
4. If the null and alternative hypotheses are H_0: μ=80 and H_A: μ > 80 then the area of rejection for the null hypothesis is
5. A company wants to estimate the mean price of oil over the past 10 years. What kind of data does the company need?
6. A recent survey of 200 small firms (annual revenue less than $10 million) asked whether an increase in the minimum wage would cause the firm to decrease capital spending. Possible responses to the survey question were: "Yes," "No," or "Don't Know." This data is best classified as
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