Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

A pharmacist reads that a 95% confidence interval for the average price of a particular prescription drug is $30.50 to $35.50. Asked to explain the meaning of this, the pharmacist says "95% of all pharmacies sell the drug for between $30.50 and $35.50." Is the pharmacist correct? Explain your response.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92749393
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

The equation used to predict how long a cold will last is

The equation used to predict how long a cold will last is y=-1.8 + 0.09x1 + 3.2x2 - 1.9x3, where x1 is person's temperature on the first day, x2 is number of people seen each day, and x3 is the amount of sleep the person ...

If the return on stock a in year 1 was 11 in year 2 was

If the return on stock A in year 1 was 11 %, in year 2 was -10 %, in year 3 was -4 % and in year 4 was 2 %, what was the standard deviation of returns for stock A over this four year period? (Round your answer to 1 decim ...

Abbb-rated corporate bond has a yield to maturity of 128

A? BBB-rated corporate bond has a yield to maturity of 12.8 %. A U.S. treasury security has a yield to maturity of 11.4 %. These yields are quoted as APRs with semiannual compounding. Both bonds pay? semi-annual coupons ...

A pawnshop will lend 4750 for 45 days at a cost of 35

A pawnshop will lend $4,750 for 45 days at a cost of $35 interest. What is the effective rate of interest?  (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal ...

Can you look for multicollinearity between a categorical

Can you look for multicollinearity between a categorical independent variable and a continuous dependent variable or can you only look for multicollinearity between a continuous independent variable and a continuous depe ...

The probability of the mets winning a game against the

The probability of the Mets winning a game against the Diamondbacks is 3/4. If they are playing a three-game series this weekend, what is the probability that the Mets will win at least 2 out of 3 games?

A bottle of water is supposed to have 20 ounces the

A bottle of water is supposed to have 20 ounces. The bottling company has determined that 98% of bottles have the correct amount. Which of the following describes a binomial experiment that would determine the probabilit ...

A bond that makes payments in a certain currency contains

A bond that makes payments in a certain currency contains the risk of holding that currency and so is priced according to the yields of similar bonds in that currency.

A process is normally distributed with a mean of 104

A process is normally distributed with a mean of 104 rotations per minute and a standard deviation of 8.2 rotations per minute. If a randomly selected minute has 118 rotations per minute, would the process be considered ...

You decide to research further this seemingly contradictory

You decide to research further this seemingly contradictory guidance, hypothesizing that the  true population average core body temperature  amidst higher ambient temperature and humidity levels while using an electric f ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As