BANA 3363 TEST QUESTONS WITH REVISED AND UPDATED ANSWERS ALL CORRECT
2 views 0 purchase
Course
BANA 3363
Institution
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.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller victoryguide. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
