(Answered) Find a point estimate for the population mean

Statistics

Problem: A U.S. Travel Data Center survey reported that Americans stayed an average of 6.5 nights when they went on vacation (sample mean = 6.5). The sample size was 1500 (n = 1500).

Required:

Question 1: Find a point estimate for the population mean.

Question 2: Find the 95% confidence interval of the true mean. Assume the standard deviation was 0.75 nights (σ = 0.75).

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M91807238
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

Question 1a consumer analyst reports that the mean life of

Question 1 A consumer analyst reports that the mean life of a certain type of alkaline battery is no more than 63 months. Write the null and alternative hypotheses and note which is the claim. A)Ho: μ ≤ 63 (claim), Ha: μ ...

Introduction to statistics assignment - inferential

Introduction to Statistics Assignment - Inferential Statistics Analysis and Writeup Purpose: The purpose of this assignment is to develop and carry out an inferential statistics analysis plan and write up the findings. T ...

The table below shows the results of a survey that asked

The table below shows the results of a survey that asked 2873 people whether they are involved in any type of charity work. A person is selected random from the sample. Frequently Occasionally Not at All Total Male 225 4 ...

1 the consultants estimated the required rate of return was

1. The consultants estimated the required rate of return was 13.635% 2. The Beta of Poorside's equity was 0.7, the market return was 20% and the risk-free rate was 12% 3. The interest rate on debentures was 13% per annum ...

Lets pretend that in a hospital 7nbspof patients

Let's pretend that in a hospital, 7% of patients are "high-risk" while the others are "lower-risk". For patients that are high-risk, 75% will be re-admitted within 30 days. For "lower-risk" patients, the 30day re-admitta ...

Assume that showing a car is a bernoulli trial and each

Assume that showing a car is a Bernoulli trial, and each time she shows a car, there is a probability of 0.15 that the customer will buy the car. The saleswoman has a goal of selling at least one car a week. 1) How many ...

What is the annual yield to maturity ytm of a 10-year bond

What is the annual yield to maturity (YTM) of a 10-year bond, $1000 par, 8% coupon paid semi-annually, currently selling for $975?

Size of accounts receivable lo1 the arizona bay corporation

Size of Accounts Receivable [LO1] The Arizona Bay Corporation sells on credit terms of net 30. Its accounts are, on average, four days past due. If annual credit sales are $9.75 million, what is the company's balance she ...

You buy a mutual fund for 1000 it annually distributes 60

You buy a mutual fund for $1,000. It annually distributes $60 for seven years, after which you sell the shares for $775. What is the annualized return on your investment? Use Appendix B and Appendix D to answer the quest ...

Question suppose x is a normally distributed random

Question: Suppose X is a normally distributed random variable with mean µ = 200 and standard deviation σ = 20 a. Sketch the probability density function of X¯. On the same graph, sketch the probability density function o ...

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