Questions 21 and 22 are related 21 Consider the mean cost of getting a four-year
ID: 3047775 • Letter: Q
Question
Questions 21 and 22 are related
21 Consider the mean cost of getting a four-year college degree. The middle interval which captures 95% of mean costs from samples of 36 graduates is ($48,750, 53,650). What is the population mean cost of getting a college degree?
a $52,100
b $51,200
c $50,500
d $49,900
22 in the previous question, suppose we want to build a middle interval which captures 95% of the sample means within ±$1,000 from the population mean. What is the minimum sample size that would yield such an interval?
a 217
b 207
c 197
d 187
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27 In the previous question, what fraction of sample proportions from samples of size 400 fall within ±0.03 from the population proportion?
a 0.8904
b 0.8384
c 0.8064
d 0.7888
Explanation / Answer
Solution21:
sample mean is best estimator of population mean
we are given 95% CI estimates
samplemean-MOE=48,750
sample mean+MOE=53,650
add 2 eq
2(samplemean)=48,750+53,650
samplemean=102400/2
=51200
OPTION B
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