BANA 3363 TEST QUESTONS WITH REVISED AND UPDATED ANSWERS ALL CORRECT
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BANA 3363
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BANA 3363
BANA 3363 TEST QUESTONS WITH REVISED AND UPDATED ANSWERS ALL CORRECT
A simple random sample of 10 items resulted in a sample mean of 10. The population standard deviation is 5. Round your answers to two decimal places.
a. What is the standard error of the mean, ?
b. At 95% confidence, what is ...
BANA 3363 TEST QUESTONS
WITH REVISED AND UPDATED
ANSWERS ALL CORRECT
A simple random sample of 10 items resulted in a sample mean of 10. The population
standard deviation is 5. Round your answers to two decimal places.
a. What is the standard error of the mean, ?
b. At 95% confidence, what is the margin of error? - Answer-A. 1.58
b. 3.09
A simple random sample of 60 items resulted in a sample mean of 80. The population
standard devidation is 15.
A. compute the 95% confidence interval for the population mean. Round your answer to
the one decimal place
b. assume that the same sample mean was obtained from a sample of 120 items.
provide a 95% confidence interval for the population mean. Round your answers to two
decimal places.
c. what is the effect of a larger sample size on the interval estimate? - Answer-A.
(76.20,83.80)
b. (77.32,82.68)
c. smaller
In a survey, the planning value for the population proportion is p*=0.25. How large a
sample should be taken to provide a 95% confidence interval with a margin of error of
0.04? Round your answer to next whole number. - Answer-451
(1.96*.04)^2*.25*(1-.25) = 451
Fewer young people are driving. In 1983, 87% of 19-year-olds had a driver's license.
Twenty-five years later that percentage had dropped to 75% (University of Michigan
Transportation Research Institute website, April 7, 2012). Suppose these results are
based on a random sample of 1200 19-year-olds in 1983 and again in 2008.
a. At 95% confidence, what is the margin of error and the interval estimate of the
number of 19-year-old drivers in 1983? Round your intermediate answers to four
decimal places. Margin of error=
Interval estimat (to four decimal places)=
b. at +5% confidence, what is the margin of error and the interval estimate of the
number of 19 year old dirivers in 2008? Round your answer to four decimal places
Margin of error=
interval estimate=
B. is the margin of error the same in parts (a) and (b)? - Answer-A. Margin of error-
.0190
Case Problem: Young Professional Magazine
Young Professional magazine was developed for a target audience of recent college
graduates who are in their first 10 years of a business or other professional career. The
magazine has been fairly successful and the publisher is interested in expanding the
publication's advertising base. As a recent hire into the marketing department at the
magazine, you have been asked to help develop a survey asking readers demographic
information and questions about their interests. Your survey results will be used to help
the magazine choose articles of interest and provide advertisers with a profile of
subscribers.
The culmination of your work will be a presentation of your findings to management.
Therefore, you not only have to present summary data, but must also be able to explain
the results in a manner that is accurate and easy to understand.
After running your analysis, the software - Answer-a. We are 95% confident that the
interval 29.7215 to 30.5029 includes the population mean age of all respondents.
Young Professional magazine was developed for a target audience of recent college
graduates who are in their first 10 years of a business or other professional career. The
magazine has been fairly successful and the publisher is interested in expanding the
publication's advertising base. As a recent hire into the marketing department at the
magazine, you have been asked to help develop a survey asking readers demographic
information and questions about their interests. Your survey results will be used to help
the magazine choose articles of interest and provide advertisers with a profile of
subscribers.
The culmination of your work will be a presentation of your findings to management.
Therefore, you not only have to present summary data, but must also be able to explain
the results in a manner that is accurate and easy to understand.
Your analysis returned the following information about subscriber income:
Using thi - Answer-a. ±2828.6, ±3370.3, and ±4429.6
Young Professional magazine was developed for a target audience of recent college
graduates who are in their first 10 years of a business or other professional career. The
magazine has been fairly successful and the publisher is interested in expanding the
publication's advertising base. As a recent hire into the marketing department at the
magazine, you have been asked to help develop a survey asking readers demographic
information and questions about their interests. Your survey results will be used to help
the magazine choose articles of interest and provide advertisers with a profile of
subscribers.
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