Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

19 please answer all. I will give 10 downvotes for copied or incorrect answer. Problem 1. Woodard and Leone (2008) collected information about house and

image text in transcribed

19 please answer all. I will give 10 downvotes for copied or incorrect answer. Problem 1. Woodard and Leone (2008) collected information about house and lot sizes for a random sample of 100 properties in Wake County, North Carolina. Assume only the minimal assumption for the population of lot sizes in Wake County, North Carolina, with unknown median n. (a) Obtain a point estimate of n; (b) Find an approximate 92% confidence interval forn. Under the more stringent assumption that the population of lot sizes in Wake County, North Carolina, is normal with mean (and median) H. (c) Obtain a point estimate of n; (d) Find an approximate 92% confidence interval for n. Compare your findings in (a) and (b) with those obtained in (c) and (d) above. Are you comfortable with the assumption that the population of lot sizes is normally distributed? Why or why not? Potentially useful info: > with (house_lot_sizes, summary (Acres)) Min. 1st Qu. Median Mean 3rd Qu. Max. 0.0000 0.2000 0.3050 0.7909 0.5025 39.3800 DO > with (house_lot_sizes, sd (Acres)) [1] 3.910718 qnorm(.92) [1] 1.405072 > qnorm (1-.92/2) [1] 0.1004337 > qnorm(1-.08) [1] 1.405072 > qnorm (1-.92) [1] -1.405072 > qnorm(.08) [1] -1.405072 > qnorm (1-.08/2) [1] 1.750686 19 please answer all. I will give 10 downvotes for copied or incorrect answer. Problem 1. Woodard and Leone (2008) collected information about house and lot sizes for a random sample of 100 properties in Wake County, North Carolina. Assume only the minimal assumption for the population of lot sizes in Wake County, North Carolina, with unknown median n. (a) Obtain a point estimate of n; (b) Find an approximate 92% confidence interval forn. Under the more stringent assumption that the population of lot sizes in Wake County, North Carolina, is normal with mean (and median) H. (c) Obtain a point estimate of n; (d) Find an approximate 92% confidence interval for n. Compare your findings in (a) and (b) with those obtained in (c) and (d) above. Are you comfortable with the assumption that the population of lot sizes is normally distributed? Why or why not? Potentially useful info: > with (house_lot_sizes, summary (Acres)) Min. 1st Qu. Median Mean 3rd Qu. Max. 0.0000 0.2000 0.3050 0.7909 0.5025 39.3800 DO > with (house_lot_sizes, sd (Acres)) [1] 3.910718 qnorm(.92) [1] 1.405072 > qnorm (1-.92/2) [1] 0.1004337 > qnorm(1-.08) [1] 1.405072 > qnorm (1-.92) [1] -1.405072 > qnorm(.08) [1] -1.405072 > qnorm (1-.08/2) [1] 1.750686

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Performance Auditing A Measurement Approach

Authors: Ronell B. Raaum CGAP CGFM, Stephen L. Morgan CIA CGAP CFE CGFM

2nd Edition

0894136607, 9780894136603

More Books

Students also viewed these Accounting questions

Question

Explain the legal environments impact on labor relations. page 631

Answered: 1 week ago