Econ321 Fall2017 Michael Thode & 12/6/17 10:03 PM Homework: Extra credit Assignm

Question

Econ321 Fall2017 Michael Thode & 12/6/17 10:03 PM Homework: Extra credit Assignment (Worth 3 pts to overall co Save Score: 0.4 of 1 pt 53 of 67 (67 complete) HW Score: 93.7%, 62.78 of 67 pts 8.1.22 Question Help * Suppose a geyser has a mean time between eruptions of 94 minutes. If the interval of time between the eruptions is normally distributed with standard deviation 29 minutes, answer the following questions. The probability that the mean of a random sample of 17 time intervals is more than 106 minutes is approximately .0436. (Round to four decimal places as needed.) (c) What is the probability that a random sample of 36 time intervals between eruptions has a mean longer than 106 minutes? The probability that the mean of a random sample of 36 time intervals is more than 106 minutes is approximately 0.0065. (Round to four decimal places as needed.) (d) What effect does increasing the sample size have on the probability? Provide an explanation for this result. Choose the correct answer below. A. The probability decreases because the variability in the sample mean decreases as the sample size increases. O B. The probability increases because the variability in the sample mean decreases as the sample size increases. ° C. The probability increases because the variability in the sample mean increases as the sample size increases. O D. The probability decreases because the variability in the sample mean increases as the sample size increases. (e) What might you conclude if a random sample of 36 time intervals between eruptions has a mean longer than 106 minutes? Choose the best answer below. O A. The population mean must be less than 94, since the probability is so low. O B. The population mean may be greater than 94. C. The population mean cannot be 94, since the probability is so low. D The population mean is 94 minutes, and this is an example of a typical samplig Click to select your answer and then click Check Answer.

Explanation / Answer

e) Here as the probability of the sample being more than 106 minutes is very very low, this is not shocking because for a sample the standard deviation decreases from that of the population as it is divided by the square root of the sample size and therefore the values which are further from mean becomes even less likelier in case of sample mean distribution than in case of population and therefore this is an example of typical sampling.

Therefore D is the correct answer here.

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.