<< Chapter < Page
  Introductory statistics     Page 15 / 36
Chapter >> Page >

64 . μ = n p = ( 500 ) ( 0.20 ) = 100
σ = n p q = 500 ( 0.20 ) ( 0.80 ) = 8.94

65 . Fifty percent, because in a normal distribution, half the values lie above the mean.

66 . The results of our sample were two standard deviations below the mean, suggesting it is unlikely that 20 percent of the lotto tickets are winners, as claimed by the distributor, and that the true percent of winners is lower. Applying the Empirical Rule, If that claim were true, we would expect to see a result this far below the mean only about 2.5 percent of the time.

7.1: the central limit theorem for sample means (averages)

67 . The central limit theorem states that if samples of sufficient size drawn from a population, the distribution of sample means will be normal, even if the distribution of the population is not normal.

68 . The sample size of 30 is sufficiently large in this example to apply the central limit theorem. This theorem ] states that for samples of sufficient size drawn from a population, the sampling distribution of the sample mean will approach normality, regardless of the distribution of the population from which the samples were drawn.

69 . You would not expect each sample to have a mean of 50, because of sampling variability. However, you would expect the sampling distribution of the sample means to cluster around 50, with an approximately normal distribution, so that values close to 50 are more common than values further removed from 50.

70 . X ¯ N ( 25 , 0.2 ) because X ¯ N ( μ x , σ x n )

71 . The standard deviation of the sampling distribution of the sample means can be calculated using the formula ( σ x n ) , which in this case is ( 16 50 ) . The correct value for the standard deviation of the sampling distribution of the sample means is therefore 2.26.

72 . The standard error of the mean is another name for the standard deviation of the sampling distribution of the sample mean. Given samples of size n drawn from a population with standard deviation σ x , the standard error of the mean is ( σ x n ) .

73 . X ~ N (75, 0.45)

74 . Your friend forgot to divide the standard deviation by the square root of n .

75 . z =   x ¯   μ x σ x =   76 75 4.5 = 2.2

76 . z = x ¯   μ x σ x =   74.7 75 4.5 = −0.67

77 . 75 + (1.5)(0.45) = 75.675

78 . The standard error of the mean will be larger, because you will be dividing by a smaller number. The standard error of the mean for samples of size n = 50 is:
( σ x n ) =   4.5 50 = 0.64

79 . You would expect this range to include values up to one standard deviation above or below the mean of the sample means. In this case:
70 + 9 60 = 71.16 and 70 9 60 = 68.84 so you would expect 68 percent of the sample means to be between 68.84 and 71.16.

80 . 70 + 9 100 = 70.9 and 70 9 100 = 69.1 so you would expect 68 percent of the sample means to be between 69.1 and 70.9. Note that this is a narrower interval due to the increased sample size.

7.2: the central limit theorem for sums

81 . For a random variable X , the random variable ΣX will tend to become normally distributed as the size n of the samples used to compute the sum increases.

82 . Both rules state that the distribution of a quantity (the mean or the sum) calculated on samples drawn from a population will tend to have a normal distribution, as the sample size increases, regardless of the distribution of population from which the samples are drawn.

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
hi guys good evening to all
Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
Got questions? Join the online conversation and get instant answers!
Jobilize.com Reply

Get Jobilize Job Search Mobile App in your pocket Now!

Get it on Google Play Download on the App Store Now




Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
Google Play and the Google Play logo are trademarks of Google Inc.

Notification Switch

Would you like to follow the 'Introductory statistics' conversation and receive update notifications?

Ask