sample statistic that gives a good guess about a population parameter. In the same way‚ a point estimate of the mean overpayment is simply a good guess about what the average overpayment for the population is. Investigating all 1‚000 claims and obtaining the overpayment amount for each would either be impractical‚ unfeasible or both. Thus‚ the auditor deems a sample size of 50 claims to be adequate and sufficiently representative of the entire population. The mean overpayment amount of this sample is
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are listed below. Find the mean speed. 181.1 201.2 202.2 193.2 190.1 201.2 201.4 194.5 191.3 199.2 201.4 196.0 192.2 196.2 7) A) 210.9 Answer: B B) 195.8 C) 201.2 D) 196.1 1 8) Calculate the correlation coefficient‚ r‚ for the data below. x y -10 -8 4 -13 A) -0.549 -1 1 -4 -10 -6 -7 -9 -6 B) -0.132 -5 -2 -3 -12 -2 -1 -9 0 C) -0.581 8) D) -0.104 Answer: D 9) Given H0
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Question 1 of 1: Interpreting the Confidence Interval Solve the following problems: A simple random sample of 40 salaries of NCAA football coaches has a mean of $415‚953 and a standard deviation of $463‚364. Construct a 95% confidence interval estimate of the mean salary of an NCAA football coach. In a study designed to test the effectiveness of acupuncture for treating migraine‚ 142 subjects were treated with acupuncture and 80 subjects were given a sham treatment. The numbers of migraine attacks
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thoughts about them‚ asking questions such as: • "What did I notice?" • "Why did it happen this way?" • "How was I changed by this?" • "What might I have done differently?" • "How could I have handled the situation differently in hindsight?" • " What have I learnt about myself?" • " How do I interact in a team?" • "How did I feel?" • "Why did I react the way I did?" • "How can I improve for next time?" You will need to do a lot of research‚ There is a reading list provided as a starting
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level of confidence. A. 1.88 B. 1.66 C. 1.96 D. 2.33 2. In a sample of 10 randomly selected women‚ it was found that their mean height was 63.4 inches. Form previous studies‚ it is assumed that the standard deviation‚ σ‚ is 2.4. Construct the 95% confidence interval for the population mean. A. (61.9‚ 64.9) B. (58.1‚ 67.3) C. (59.7‚ 66.5) D. (60.8‚ 65.4) 3. Suppose a 95% confidence interval for µ turns out to be (120‚ 310). To make more useful inferences
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A government is considering subsidising a series of high-speed rail lines in order to reduce short-haul air flights. To what extent might CBA be a useful method of evaluating this proposal? The Basic Economic Problem is that needs and wants are unlimited but resources are limited. Cost Benefit analysis (CBA) is a technique for assessing the monetary and social costs and benefits of a capital investment project over a given time period. It is by this method that we decide to which project proposal
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ARTICLE The Effect of Retention Interval on the Confidence–Accuracy Relationship for Eyewitness Identification James Sauer Æ Neil Brewer Æ Tick Zweck Æ Nathan Weber Published online: 22 July 2009 Ó American Psychology-Law Society/Division 41 of the American Psychological Association 2009 Abstract Recent research using a calibration approach indicates that eyewitness confidence assessments obtained immediately after a positive identification decision provide a useful guide as to the likely accuracy
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Statistics for Managers using Microsoft Excel 6th Edition Module 4 Sampling & Confidence Interval Estimation Copyright ©2012 Pearson Education Chap 8-1 Chapter Outline Confidence Intervals for the Population Mean‚ μ when Population Standard Deviation σ is Known when Population Standard Deviation σ is Unknown Confidence Intervals for the Population Proportion‚ p Determining the Required Sample Size Copyright ©2012 Pearson Education Chap 8-2 Introduction Copyright ©2012 Pearson
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The film “How to Make Better Decisions” was quite interesting. The beginning of the film highlighted how based on science‚ it shows that the decisions we make are bad. We assume that we have a strong awareness of our choices and the reason why we do certain things. I agree with that because every time I make a decision‚ I always think that I know what the outcome would be‚ but really I am only making a decision based on my emotions and I am only assuming to think the outcome will be great. When
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Sample sizes and confidence intervals for proportions Chong Chun Wie Ext: 2768 ChongChunWie@imu.edu.my Content • Sampling distribution of sample means (SDSM) • Normality Test • Estimating a population mean: σ known • Estimating a population mean: σ unknown • Standard deviation of proportion • Confidence interval of proportion • Hypothesis testing with proportion Population and Sample Samples Populations Sampling distribution of sample means (SDSM) Sampling distribution • Example – Select
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