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Question: The trade volume of a stock is


The trade volume of a stock is the number of shares traded on a given day. The following data, in millions (so that 6.16 represents 6,160,000 shares traded), represent the volume of PepsiCo stock traded for a random sample of 40 trading days in 2018.



The trade volume of a stock is the number of shares traded -1

(a) Use the data to compute a point estimate for the population mean number of shares traded per day in 2018.
(b) Construct a 95% confidence interval for the population mean number of shares traded per day in 2018. Interpret the confidence interval.
(c) A second random sample of 40 days in 2018 resulted in the data shown next. Construct another 95% confidence interval for the population mean number of shares traded per day in 2018. Interpret the confidence interval.



The trade volume of a stock is the number of shares traded -2

(d) Explain why the confidence intervals obtained in parts (b) and (c) are different.


> Does chewing your food for a longer period of time reduce one’s caloric intake of food at dinner? A researcher requires a sample of 75 healthy males to chew their food twice as long as they normally do. The researcher then records the calorie consumption

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> Researchers at the Gallup Organization asked a random sample of 1016 adult Americans aged 21 years or older, “Right now, do you think the state of moral values in the country as a whole is getting better, or getting worse?”

> A developmental mathematics instructor wishes to estimate the typical amount of time students dedicate to studying mathematics in a week. She asks a random sample of 50 students enrolled in developmental mathematics at her school to report the amount of

> Researchers conducted a study to see the effect of specific lifestyle and dietary changes for preventing long-term weight gain. The study involved the consolidation of three cohorts from the Nurses’ Health Study (NHS): (1) cohort of 121,701 female regist

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> The following data represent the property tax for a random sample of 50 single-family homes in the city of Houston. Suppose you want to estimate the typical property real estate tax for a single-family home in the city of Houston. (a) What type of variab

> Sleep apnea is a disorder in which you have one or more pauses in breathing or shallow breaths while you sleep. In a cross-sectional study of 320 individuals who suffer from sleep apnea, it was found that 192 had gum disease. Note: In the general populat

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> In a random sample of 40 visitors to a certain theme park, it was determined that the mean amount of money spent per person at the park (including ticket price) was $93.43 per day with a standard deviation of $15. Construct and interpret a 99% confidence

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> Fifty rounds of a new type of ammunition were fired from a test weapon, and the muzzle velocity of the projectile was measured. The sample had a mean muzzle velocity of 863 meters per second and a standard deviation of 2.7 meters per second. Construct an

> In a random sample of 100 estate tax returns that was audited by the Internal Revenue Service, it was determined that the mean amount of additional tax owed was $3421 with a standard deviation of $2583. Construct and interpret a 90% confidence interval f

> Based on a poll conducted by the Centers for Disease Control, 862 of 1013 randomly selected adults said that they always wear seat belts. Construct and interpret a 95% confidence interval for the proportion of adults who always wear seat belts.

> Self-driving vehicles periodically suffer from a disengagement of the self-driving feature. In these cases, it is important to know how long it takes for the driver to manually take control of the vehicle. In a study of 487 instances where a self-driving

> A simple random sample of size n = 210 is drawn from a population. The sample mean is found to be / = 20.1, and the sample standard deviation is found to be s = 3.2. Construct a 90% confidence interval for the population mean

> A simple random sample of size n = 40 is drawn from a population. The sample mean is found to be / = 120.5, and the sample standard deviation is found to be s = 12.9. Construct a 99% confidence interval for the population mean.

> A simple random sample of size n = 17 is drawn from a population that is normally distributed. The sample mean is found to be / = 3.25, and the sample standard deviation is found to be s = 1.17. Construct a 95% confidence interval for the population mean

> Research the origins of the Gallup Poll and the current sampling method the organization uses. Report your findings to the class.

> A simple random sample of size n = 12 is drawn from a population that is normally distributed. The sample mean is found to be / = 45, and the sample standard deviation is found to be s = 14. Construct a 90% confidence interval for the population mean.

> A simple random sample of size n = 785 adults was asked if they follow college football. Of the 785 surveyed, 275 responded that they did follow college football. Construct a 95% confidence interval for the population proportion of adults who follow coll

> A simple random sample of size n = 300 individuals who are currently employed is asked if they work at home at least once per week. Of the 300 employed individuals surveyed, 35 responded that they did work at home at least once per week. Construct a 99%

> What requirements must be satisfied in order to construct a confidence interval about a population mean?

> Put the following in order from least to greatest. • t0.10 with 5 degrees of freedom • t0.10 with 15 degrees of freedom • z0.10

> State the properties of Student’s t-distribution.

> The notation ta is the t-value such that the area under the t-distribution to the right of ta is______ .

> As the number of degrees of freedom in the t-distribution increases, the spread of the distribution________ (increases/ decreases).

> Population A has standard deviation / and population B has standard deviation /How many times larger than Population A’s sample size does Population B’s need to be to estimate  with the same margin of error? (Hint: Compute /

> Suppose you have two populations: Population A—All students at Illinois State University (N = 21,000) and Population B—All residents of the city of Homer Glen, IL (N = 21,000). You want to estimate the mean age of each population using two separate sampl

> What is random sampling? Why is it necessary for a sample to be obtained randomly rather than conveniently? Will randomness guarantee that a sample will provide accurate information about the population? Explain.

> The mean age of the 45 presidents of the United States (as of 2018) on the day of inauguration is 55.0 years, with a standard deviation of 6.6 years. A researcher constructed a 95% confidence interval for the mean age of presidents on inauguration day. H

> Explain what is meant by degrees of freedom.

> The procedure for constructing a t-interval is robust. Explain what this means.

> Explain why the t-distribution has less spread as the number of degrees of freedom increases.

> A question on the General Social Survey was, “When you drink, how many drinks do you have?” The survey was administered to a random sample of 243 adult Americans aged 21 or older. Go to www.pearsonhighered.com/ sullivanstats to obtain the data file 9_2_4

> Researchers Havar Brendryen and Pal Kraft conducted a study in which 396 subjects were randomly assigned to either an experimental smoking cessation program or control group. The experimental program consisted of the Internet and phone-based Happy Ending

> The exponential probability distribution can be used to model waiting time in line or the lifetime of electronic components. Its density function is skewed right. Suppose the wait-time in a line can be modeled by the exponential distribution with  =  =

> IQ scores based on the Wechsler Intelligence Scale for Children (WISC) are known to be approximately normally distributed with  = 100 and =15. (a) Use StatCrunch, Minitab, or some other statistical software to simulate obtaining 100 simple random sampl

> The following small data set represents a simple random sample from a population whose mean is 50. (a) A normal probability plot indicates that the data could come from a population that is normally distributed with no outliers. Compute a 95% confidence

> The data sets represent simple random samples from a population whose mean is 100. (a) Compute the sample mean of each data set. (b) For each data set, construct a 95% confidence interval about the population mean. (c) What effect does the sample size n

> Suppose a political strategist wants to get a sense of how American adults aged 18 years or older feel about health care and health insurance. (a) In a political poll, what would be a good frame to use for obtaining a sample? (b) Explain why simple rando

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> For the “Hours Worked” survey conducted by Gallup in Problem 21, provide two recommendations for decreasing the width of the interval.

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> Lower bound: 15, upper bound: 35

> Lower bound: 5, upper bound: 23

> Lower bound: 20, upper bound: 30

> Lower bound: 18, upper bound: 24

> The county sheriff wants to determine if a certain highway has a high proportion of speeders traveling on it. Design a sampling method to obtain the individuals in the sample. Be sure to support your choice.

> Number of unpopped kernels in a bag of microwave popcorn

> n = 9; Correlation = 0.997

> n = 13; Correlation = 0.966

> n = 15; Correlation = 0.893

> n = 12; Correlation = 0.987

> (a) Find the t-value such that the area in the right tail is 0.02 with 19 degrees of freedom. (b) Find the t-value such that the area in the right tail is 0.10 with 32 degrees of freedom. (c) Find the t-value such that the area left of the t-value is 0.0

> (a) Find the t-value such that the area in the right tail is 0.10 with 25 degrees of freedom. (b) Find the t-value such that the area in the right tail is 0.05 with 30 degrees of freedom. (c) Find the t-value such that the area left of the t-value is 0.

> The procedure for constructing a confidence interval about a mean is_____ , which means minor departures from normality do not affect the accuracy of the interval.

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> If you constructed one hundred 95% confidence intervals based on one hundred different simple random samples of size n, how many of the intervals would you expect to include the unknown parameter? Assume all model requirements are satisfied.

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> What type of variable is required to construct a confidence interval for a population proportion?

> Explain what “95% confidence” means in a 95% confidence interval.

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> A Bernoulli random variable is a variable that is either 0 (a failure) or 1 (a success). The probability of success is denoted p. (a) Use a statistical spreadsheet to generate 1000 Bernoulli samples of size n = 20 with p = 0.15. (b) Determine the sample

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