Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Solve clearly... ignore question 7...it's just a dummy question... Hint(s) Check My Work In 2016 the Better Business Bureau settled 83ye of complaints they received

Solve clearly... ignore question 7...it's just a dummy question...

image text in transcribedimage text in transcribed
Hint(s) Check My Work In 2016 the Better Business Bureau settled 83ye of complaints they received in the United States. Suppose you have been hired by the Better Business Bureau to investigate the complaints they received this year involving new car dealers. You plan to select a sample of new car dealer complaints to estimate the proportion of complaints the Better Business Bureau is able to settle, Assume the population proportion of complaints settled for new car dealers is 0.83, the same as the overall proportion of complaints settled in 2016. Use the z-table, a. Suppose you select a sample of 200 complaints Involving new car dealers. Show the sampling distribution of P. E(P) .03 (to 2 decimals) .0282 (to 4 decimals) b. Based upon a sample of 200 complaints, what is the probability that the sample proportion will be within 0.01 of the population proportion (to 4 decimals)? probability= .4758 c. Suppose you select a sample of 430 complaints Involving new car dealers, Show the sampling distribution of p. E(P) = (to 2 decimals) (to 4 decimals) d. Based upon the larger sample of 430 complaints, what is the probability that the sample proportion will be within 0.01 of the population proportion (to 4 decimals)? probability e. As measured by the Increase in probability, how much do you gain in precision by taking the larger sample in part (d)7 The probability of the sample proportion being within 0.01 of the population mean is increased by (to 3 decimals). There is a gain in precision by | increasing the sample size.UESTION 7 Table: Costs of Antibiotics Quantity of Marginal Benefit Marginal Cost External Marginal Social Antibiotics to Buyers to sellers Cost Cost $25 $10 $20 $10 $10 $15 $15 $10 $10 $20 $10 $5 $25 510 Reference Ref 10-1. (Table. Costs of Antibiotics) Refer to the table. The deadweight loss in the market could be eliminated if the government (A. equated marginal benefit with external cost B. outlawed the production of the good C added a $10 tax per unit: (70 subsidized consumption by $5 per unit

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

The Art Of Proof Basic Training For Deeper Mathematics

Authors: Matthias Beck, Ross Geoghegan

1st Edition

1441970231, 9781441970237

More Books

Students also viewed these Mathematics questions

Question

Explain why E cell , G rxn , and K are all interrelated.

Answered: 1 week ago