Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Selling prices of a PDA (personal digital assistant) in eighteen randomly chosen stores are shown below. 254 247 259 206 210 240 226 259 231

image text in transcribedimage text in transcribed
image text in transcribedimage text in transcribed
Selling prices of a PDA (personal digital assistant) in eighteen randomly chosen stores are shown below. 254 247 259 206 210 240 226 259 231 247 218 178 254 240 237 226 247 226 0 These data have x = 233.61, s =21.13, Q1 =226, Median = 238.5, Q3 =247. Use StatCrunch to find the requested summary statistics and confidence intervals. b. Determine the 95% confidence interval for the population mean u. The lower limit is The upper limit is (Round to two decimal places as needed.) Interpret this confidence interval. O A. We can be 95% confident that the mean population price is between $223.1 and $244.12. O B. Ninety-five percent of prices fall between $223.1 and $244. 12. O C. We can be 95% confident that all selling prices are between $223.1 and $244. 12. O D. We can be 95% confident that a given selling price will be between $223.1 and $244. 12. c. Are any of the observations more than 1.5 . IQR below Q1 or above Q3? O A. Yes, because there is at least one observation above (Q3 + 1.5 . IQR). O B. No, because all observations lie between (Q1 - 1.5 . IQR) and (Q3 + 1.5 . IQR). O C. Yes, because there are observations below (Q1 - 1.5 . IQR) and above (Q3 + 1.5 . IQR). O D. Yes, because there is at least one observation below (Q1 - 1.5 . IQR).d. The dotplot shows that the $178 observation is quite a bit lower than the others. Deleting this observation, find the mean and standard deviation, and construct the 95% confidence interval for p. x=(Round to two decimal places as needed.) s=(Round to two decimal places as needed.) Construct the 95% confidence interval for p. The lower limit is The upper limit is (Round to two decimal places as needed.)

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

Step: 3

blur-text-image

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

Non-Cooperative Game Theory

Authors: Takako Fujiwara Greve

1st Edition

4431556451, 9784431556459

More Books

Students also viewed these Mathematics questions