A major tire manufacturer wishes to estimate mean tread, Ask an Expert

Statistics

Test for one sample mean

1. A major tire manufacturer wishes to estimate mean tread life in miles for one of their tires. They want to develop the confidence interval estimate that would've the maximum sampling error of 500 miles with 90 percent confidence. A pilot sample of n = 50 tires showed the sample standard deviation equal to 4,000 miles. Based upon this information, the required sample size is:

a. 124.

b. 246.

c. 174.

d. 196.

2. One of the factors that the company will employ in determining whether it will locate the new facility in a community is status of the real estate market. The managers believe that an significant measure of the real estate market is the average length of time that homes stay on market before selling. They believe that if the mean time on market is less than 45 days, the real estate market is favorable. To test this in the particular area, a random sample of n = 100 homes that sold throughout the past six months was selected. The mean for this sample was 40 days. It is believed that population standard deviation is 15 days. If the test is conducted using the 0.05 level of significance, what conclusion should be reached?

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M922486

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

37 of college students say they use credit cards because of

37?% of college students say they use credit cards because of the rewards program. You randomly select 10 college students and ask each to name the reason he or she uses credit cards. Find the probability that the number ...

Performance scores on a motor skills task form a normal

Performance scores on a motor skills task form a normal distribution with μ = 20 and σ = 4. A psychologist is using this task to determine the extent to which increased self-awareness affects performance. The prediction ...

How much of the opposing side should you share in a

How much of the opposing side should you share in a presentation to a multiple-perspective audience, and what techniques would you use?

Assume that when adults with smartphones are randomly

Assume that when adults with smartphones are randomly? selected, 42?% use them in meetings or classes. If 7 adult smartphone users are randomly? selected, find the probability that at least 5 of them use their smartphone ...

A logging truck sales representative will phone either one

A logging truck sales representative will phone either one or two potential buyers per day with probabilities of 0.25 and 0.75, respectively. Each contact will result in either no sale or a $75,000 sale with probabilitie ...

Among 140 subjects with positive test results there are 25

Among 140 subjects with positive test? results, there are 25 false positive? results; among 152 negative? results, there are 22 false negative results. If one of the test subjects is randomly? selected, find the probabil ...

People were polled on how many books they read the previous

People were polled on how many books they read the previous year. How many subjects are needed to estimate the number of books read the previous year within one book with 99% confidence? Initial survey results indicate ...

In a population of phd students 50 have paid assistant

In a population of Ph.D students 50% have paid assistant ships. A random sample of n=200 students are chosen. What is the expected number of students who have paid assistant ships in this sample?

In a club with 9 male and 10 female members a 4-member

In a club with 9 male and 10 female? members, a 4?-member committee will be randomly chosen. Find the probability that the committee contains at least 3 women.

A set of score has a mean of mu 63 and a standard

A set of score has a mean of μ = 63 and a standard deviation of σ = 8. If these scores are standardized so that the new distribution has μ = 50 and σ = 10, what new value would be obtained for a score of X = 59 from the ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert