During routine conversations, the ceo of a new start up reports that

  1. During routine conversations, the CEO of a new start up reports that 15% of adults between the ages of 21 and 39 will purchase her new product. Hearing this, some investors decide to conduct a large scale study, hoping to estimate the proportion to within 5% with 90% confidence. How many randomly selected adults between the ages of 21 and 39 must they survey?

 

 

The number of adults that should be surveyed is 138 (Round up to the nearest whole number).

 

 

  1. A random sample of 20 purchases showed the amounts in the table (in $). The mean is $52.08 and the standard deviation is $20.92.

a)      What is the standard error of the mean?

b)      How would the standard error change if the sample size had been 5 instead of 20? (Assume that the sample standard deviation didn’t change).

 

Table:

 

80.70             45.42     46.89     83.80

28.19             48.65     29.17     50.75

31.17             72.20     32.29     52.41

72.43             33.13     74.04     87.73

16.41             38.40     58.79     59.00

 

 

a)      The standard error of the mean is 4.68(Round to two decimal places as needed)

b)      How would the standard error change if the sample size was 5 instead of 20 with the same sample standard deviation? Select the correct choice below and fill in any answer boxes within your choice.

 

a)      The standard error would increase. The new standard error would be 2 times the old.

 

b)      The standard error would decrease. The new standard error would be the old standard error divided by _____________

 

c)      The standard error would not change.

 

  1. Top management at a large Software company wishes to estimate the average number of hours its firm’s professional employees volunteer in the local community. Based on past similar studies, the standard deviation was found to be 2.22 hours. If top management wants to estimate the average number of hours volunteered per month by their professional staff to within one hour with 99% confidence, how many randomly selected professional employees would they need to sample?

 

a)      19

b)      44

c)       33

d)      25

e)      54

 

 

  1. A young investor believes that he can beat the market by pricing stocks that will increase in value. Assume that on average 52% of the stocks selected by a portfolio manager will increase over 12 months. Of the 29 stocks that the young investor bought over the last 12 months, 17 have increased. Can he claim that he is better at predicting increases that the typical portfolio manager? Test at a = 0.05

 

What is the null and alternative hypothesis for this test?

 

a)     

b)     

c)      

d)     

 

Calculate the test statistic.

 

Z = 0.714(Round to three decimal places as needed)

What is the P-value for the test statistic?

 

P-Value =0.238(Round to three decimal places).

 

What can the investor conclude? Assume  a=0.05

 

a)      He rejects the null hypothesis and cannot claim that he is better at predicting increases than the typical portfolio manager.

b)      He fails to reject the null hypothesis and can claim that he is better at predicting increases than the typical portfolio manager, but this conclusion may not be reliable. ‘

c)       He fails to reject the null hypothesis and can not claim that he is better at predicting increases than the typical portfolio manager, but this conclusion may not be reliable.

d)      He rejects the null hypothesis and can claim that he is better at predicting increases than the typical portfolio manager, but this conclusion may not be reliable.

 

 

 

  1. A random sample of the amounts for 16 purchases was taken. The mean was $44.37, the standard deviation was $23.32, and the margin of error for a 95% confidence interval was $12.43.

 

a)      To reduce the margin of error to about $6, how large would the sample size have to be?

b)      How large would the sample size have to be to reduce the margin of error to $1.2?

 

 

a)      The new sample size should be69(Round up to the nearest integer)

b)      The new sample size should be 1717(Round up to the nearest integer).

 

 

 

 

Essay Help
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.