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Mba510 Week 5 Problem Set

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Issue:

Business

 

Written by:

Gordon M

 

Date added:

June 4, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

8 / 1973

 

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8797 times

 

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The best estimate of this value is the sample mean of 60 pounds. b. Explain why we need to use the t distribution. What assumption do you need to make? According to Lind, et al. (2005), when population standard deviation is unknown, and the sample is smaller than 30, a t distribution should be used...
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We need to assume that the sample is from a normal population (pp. 291-293). c. For a 90 percent confidence interval, what is the value of t? For a 90 percent confidence interval, and df = 15, t= 1.753 d. Develop the 90 percent confidence interval for the population mean. Xbar = 60; s = 20; n = 16 Xbar ±t(s/vn) = 60 ± 1...
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