Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

A statistician wants to estimate the mean weekly family expenditure on clothes. He believes that the standard deviation of the weekly expenditure is $125. Determine with 99% confidence the number of families that must be sampled to estimate the mean weekly family expenditure on clothes to within $15.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M9374300

Have any Question?


Related Questions in Statistics and Probability

A logging contractor has three feller bunchers on any given

A logging contractor has three feller bunchers. On any given day, each machine has a 90% chance of working. The contractor is considering buying a fourth feller buncher to offset the possibility of none of the machines o ...

The everly equipment companys flange-lipping machine was

The Everly Equipment Company's flange-lipping machine was purchased 5 years ago for $70,000. It had an expected life of 10 years when it was bought and its remaining depreciation is $7,000 per year for each year of its r ...

You have a bag with three fair dice one is 4-sided one is

You have a bag with three fair dice. One is 4-sided, one is 6-sided, and one is 12-sided. You reach into the bag, pick one die at random, and roll it. The outcome of the roll is 4. What is the probability that you rolled ...

An electronics store receives a shipment of 37 graphing

An electronics store receives a shipment of 37 graphing calculators, including 5 that are defective. Eight calculators are chosen at random to be sent to a local high school. How many selections contain 3 defective?

You want to borrow 36000 from your local bank to buy a new

You want to borrow $36,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $750, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR ...

You are lost on the mythy island in the summer when

You are lost on the Mythy Island in the summer, when tourists are two-thirds of the population. If you ask a tourist for direction the answer is correct with probability ¾; answers to repeated questions are independent e ...

In a recent year 8032844 male students and 9381579 female

In a recent year, 8,032,844 male students and 9,381,579 female students were enrolled as undergraduates. Receiving aid were 64.1% of the male students and 65.7% of the female students. Of those receiving aid, 41% of the ...

A fifteen percent of the us population is greater than 65

A. Fifteen percent of the U.S. population is greater than 65 years of age. If a sample of 100 persons is chosen, what is the probability that fewer than 10 are more than 65 years old? B. In a sample of size 100 from the ...

Future value of an annuitywhat is the future value of a 470

Future Value of an Annuity What is the future value of a $470 annuity payment over 7 years if the interest rates are 6 percent?

If you are constructing a confidence interval for a

If you are constructing a confidence interval for a population mean, for the same confidence level, the width of the confidence interval will __________ as the sample size increases. Decrease Increase Stay the same Depen ...

  • 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