From a simple random sample of 200 accounts, 50 are overdue. The point estimate

Question

From a simple random sample of 200 accounts, 50 are overdue. The point estimate of the population proportion overdue will be: 0.20 - 0.30 50 0.25 0.50 It is desired to estimate the average total compensation of CEO's the Service industry. Data were randomly collected from 18 CEO's and the 97% confidence interval was calculated to be from $2, 181, 260 to $5, 836, 180. Which of the following interpretations is correct? 97% of the sampled total compensation values fell between $2, 181, 260 and $5, 836, 180. We are 97% confident that the average total compensation of all CEO's in the service industry falls in the interval between $2, 181, 260 and $5, 836, 180. In the population of Service industry CEO's, 97% of them will have total compensations that fall in the interval between $2, 181, 260 and $5, 836, 180. We are 97% confident that the sampled total compensation values fell in the interval between $2, 181, 260 and $5, 836, 180. A major department store chain is interested in estimating the average amount its credit card customers spent on their first visit to the chain's new store in the mall. Fifteen credit card accounts were randomly sampled mid analyzed with the following results: X^bar = $50.50 and s^2 = 400. Construct a 95% confidence interval for the average amount its credit card customers spent on their first visit to the chain's new store in the mall. $50.50 plusorminus $11.08 $10.12 $50.50 plusorminus $11.00 $50.50 plusorminus $10.12 $50.50 plusorminus $9.09

Explanation / Answer

43) point estimate =50/200=0.25 option C

44)option B

45)for std error =std deviaiton/(n)1/2 =5.164

for 14 df and 95%; t=2.1448

confidence interval =sample mean -/+ t*std error = 50.50 -/+ 11.08 option A is correct

46)critical value =2.797 option A

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