Title: Mba510 Week 5 Problem Set
|Date:||December 13, 2014|
|Length:||7 / 1973|
|No of views:||0|
|Essay rating:||good 0, average 0, bad 0 (total score: 0)|
The best estimate of this value is the sample mean of 60 pounds.
b. Explain why we need to use the t distribution. What assumption do you need to make?
According to Lind, et al. (2005), when population standard deviation is unknown, and the sample is smaller than 30, a t distribution should be used...
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We need to assume that the sample is from a normal population (pp. 291-293).
c. For a 90 percent confidence interval, what is the value of t?
For a 90 percent confidence interval, and df = 15, t= 1.753
d. Develop the 90 percent confidence interval for the population mean.
Xbar = 60; s = 20; n = 16
Xbar ±t(s/vn) = 60 ± 1...
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