Essay
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The mean household income,in dollars,must be estimated for a town that is divided into three districts.The relevant information is shown in the table.
A 95% confidence interval for the population mean that extends $550 on each side of the sample estimate is required.
-A bank holds 750 delinquent mortgages in residential properties.It requires an estimate of the mean current appraised value of these properties.Initially,a random sample of 25 was appraised,and a sample standard deviation of $38,400 was found.If the bank requires a 90% confidence interval for the population mean extending $5,000 on each side of the sample mean,how many more properties must be appraised?
Correct Answer:
Verified
1.645σ 
= 5000 ⇒ σ
= 3039.5...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
= 5000 ⇒ σ
= 3039.5...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q22: Which of the following sampling methods would
Q23: THE NEXT QUESTIONS ARE BASED ON THE
Q24: THE NEXT QUESTIONS ARE BASED ON THE
Q25: THE NEXT QUESTIONS ARE BASED ON THE
Q26: A smaller sample size is required where
Q28: THE NEXT QUESTIONS ARE BASED ON THE
Q29: Suppose that for a sample of 65
Q30: THE NEXT QUESTIONS ARE BASED ON THE
Q31: A sales representative has 600 accounts.He wants
Q32: Stratified random sampling is an example of