239,000 320,900 1,599,000 414,900 325,000 500,000 539,000 390,000 219,900 310,00

Question

239,000 320,900 1,599,000 414,900 325,000 500,000 539,000 390,000 219,900 310,000 769,900 300,000 374,900 649,900 650,000 459,000 239,900 245,000 477,180 375,000 599,900 459,000 945,000 549,000 500,000 750,000 130,000 424,000 459,000 489,000 899,900 480,000 444,900 119,000 399,900 443,000 465,000 749,900 889,000 501,000 475,000 314,000 399,000 450,000 479,000 439,000 740,000 855,000 289,000 335,000 225,500 399,900 439,900 665,000 894,900 850,000 285,500 499,500 269,900 349,000 480,000 535,000 975,000 1,295,000 309,900 432,500 419,000 415,000 469,000 525,000 349,000 765,000 320,000 765,000 325,000 479,000 449,000 529,000 449,000 795,000 1,595,900 Explain how much more or less the standard deviation of sample means was than the population standard deviation. According to the formula for standard deviation of sample means, it should be far less. (That formula is = /n = /10 = /3.16 ) Does your computed agree with the iation. According to the formula for standard deviation of sample means, it should be far less. (That formula is = /n = /10 = /3.16 ) Does your computed agree with the formula? According to the Empirical Rule, what percentage of your sample means should be within 1 standard deviation of the population mean? Using your computed , do your sample means seem to conform to the rule?

Explanation / Answer

sd.=264532,sample mean=508321.76

standerd error of mean(Xbar)=sigma/sqrt68=sigma/8.246

=264532/8.246=32079.2

99% confidence interval of mean=Xbar+-2.58*S.E of mean

=508321.76+-2.85*32079.2

=591086&425557 means 99% observation will fall between these two value

+-1sigma limit UCL=264532+508321.76=772853.76

LCL=508321.76-264532=243789.76

Fitting these limit to data we get 80.90% data fall within this limit.Ans.

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