STATISTICS HOMEWORK HELP!!! desperate…?
Question by Jesse: STATISTICS HOMEWORK HELP!!! desperate…?
I need To finish these by tomorrow morning…i have most gut i need to check if im right. Work would be great …:)
Question Details:
1) A firm believes the internal rate of return for its proposed investment can best be described by a normal distribution with mean 32% and standard deviation 3%. What is the
probability that the internal rate of return for the investment will be at least 27.5%?
2) Farmers often sell fruits and vegetables at roadside stands during the summer. One such roadside stand has a daily demand for tomatoes that is approximately normally distributed with a mean equal to 459 tomatoes per day and a standard deviation equal to 30 tomatoes per day. If there are 417 tomatoes available to be sold at the roadside stand at the beginning of a day, what is the probability that they will all be sold?
3) The board of examiners that administers the real estate broker’s examination in a certain state found that the mean score on the test was 579 and the standard deviation was 72. If the board wants to set the passing score so that only the best 10% of all applicants pass, what is the passing score? Assume that the scores are normally distributed.
4) The amount of time it takes a student to walk from her home to class has a skewed right distribution with a mean of 12 minutes and a standard deviation of 2.3 minutes. If data were collected from 30 randomly selected walks, describe the sampling distribution of x,the sample mean time.
5) A survey of 500 non-fatal accidents showed that 222 involved the use of a cell phone. Construct a 99% confidence interval for the proportion of fatal accidents that involved the use of a cell phone.
6) In a recent study of 95 eighth graders, the mean number of hours per week that they watched television was 18.7. Assume standard deviation = 5.5 hours.
a) Find the 95% confidence interval of the mean.
b) If the standard deviation is doubled to 11, what will be the effect on the confidence interval?
7) In order to set rates, an insurance company is trying to estimate the number of sick days that full time workers at an auto repair shop take per year. A previous study indicated that the standard deviation was 2.2 days.
a) How large a sample must be selected if the company wants to be 90% confident that the true mean differs from the sample mean by no more than 1 day?
b) Repeat part (a) using a 95% confidence interval. Which level of confidence requires a larger sample size? Explain.
The principal at Lakewood Elementary would like to estimate the mean length of time each day that it takes all the buses to arrive and unload the students. How large a sample is needed if the principal would like to assert with 90% confidence that the sample mean is off by, at most, 7 minutes. Assume standard deviation = 14 minutes.
9) In a college student poll, it is of interest to estimate the proportion p of students in favor of changing from a quarter-system to a semester-system. How many students should be polled so that we can estimate p to within .09 using a 99% confidence interval?
10) In a survey of 10 golfers, 2 were found to be left-handed. Is it practical to construct the 90% confidence interval for the population proportion, p? Explain.
Best answer:
Answer by Karthik S
Jesse,
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