Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Suppose you randomly choose a sample of 25 observations from a normal distribution. You then use those observations to estimate the mean of the population.

a. Assuming that we would consider anything from 159 to 161 as "equal to 160," and that we know that the standard deviation of the population is 1.0, estimate the probability that we will be able to determine that the mean is different than 160 if it actually is different than 160. Use α = 0.05. (Hint: this is equivalent to saying, "what is the probability that we will reject the null hypothesis given that it is false?")
b. If the mean of the observations is 158.7, what would you guess the mean of the population is (on the basis of the sample)? (I do not want the confidence interval - just report your estimate of the population mean.)
c. Suppose the population is N(160.0, 1.2). It is possible that you could extract a sample from that population such that a hypothesis test on that sample would reject the null hypothesis, even though it is true. If we use α = 0.01, what are the chances of this happening? (Hint: this is equivalent to saying, "what is the probability that we would reject the null hypothesis given that it is true?")
d. If you were to accept the null hypothesis, even though the null hypothesis was false, what type of error would you have commited?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M9412372

Have any Question?


Related Questions in Statistics and Probability

Assume that a firm could borrow 100 billion dollars the

Assume that a firm could borrow 100 billion dollars. The most straightforward value from the leveraged recapitalization that people would estimate is the present value of interest tax shield. Assume the cost of debt is 0 ...

The acme insurance company has two types of customers

The ACME Insurance Company has two types of customers, careful and reckless. A careful customer has an accident during the year with probability 0.01. A reckless customer has an accident during the year with probability ...

A calculus student takes a 20 question multiple choice test

A calculus student takes a 20 question multiple choice test with five answer choices for each question. Find the probability of getting atleast 70 percent of the question correct? Suppose a family has 5 children and that ...

In a sample of 12 kids their mean time on the internet on

In a sample of 12 kids, their mean time on the internet on the phone was 3.9 hours with a standard deviation of 0.7 hours. Which distribution would be most appropriate to use?

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 ...

An annual survey of first-year college students ask 273000

An annual survey of first-year college students ask 273,000 students about their attitudes on a variety of subjects. According to a recent survey, 57% of first-year students believe that abortion should be legal. Use 0.0 ...

We choose a number from the set 1 2 100 uniformly at

We choose a number from the set {1, 2, ..., 100} uniformly at random and denote this number by  X . For each of the following choices, determine whether the events in question are independent or not. A = {X is even}, B = ...

Confidence intervals ci are one of the simpler forms of

Confidence intervals (CI) are one of the simpler forms of inferential statistics. What does the CI represent? And why does our knowledge of the Central Limit Theorem (CLT) and the empirical rule let us understand why the ...

Based on labor statistics17nbspof workers in a particular

Based on labor? statistics,17% of workers in a particular profession are female. Complete parts a through e below based on a random sample of 8 workers in this profession. a. What is the probability that exactly one work ...

John plans to take three suits on his business trip if john

John plans to take three suits on his business trip. If John owns 8 suits, how many ways can the 3 suits be selected?

  • 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