Mathematics, 16.04.2020 04:16 joynerjaila
Last year, a study showed that the average ATM cash withdrawal took 65 seconds with a standard deviation of 10 seconds.
The study is to be repeated this year, but we need to determine the required sample size (n). Then, you will use a random sample from this year to construct a confidence interval for the average (mean) time it takes to withdraw cash from an ATM.
For the confidence level (1 - α) = 0.95, the critical value (CV) is
Select one:
a. 1.96
b. 1.64
c. 1.28
d. 2.58
How large a sample (rounded up) would be needed to estimate this year's mean with 95% confidence and a margin of error of 4 seconds? Use the standard deviation from last year study as the population standard deviation (σ).
Select one:
a. 25
b. 17
c. 11
d. 42
How large a sample (rounded up) would be needed to estimate this year's mean with a 95% confidence and a margin of error of 2 seconds? Use last year's standard deviation as the population standard deviation (σ).
Select one:
a. 97
b. 68
c. 41
d. 167
For the confidence level (1-α) = 0.99, the critical value (CV) is
Select one:
a. 2.58
b. 2.33
c. 1.28
d. 1.96
How large a sample (rounded up) would be needed to estimate this year's mean with a 99% confidence and a margin of error (ME) of 4 seconds? Use the standard deviation from last year as the population standard deviation (σ).
Select one:
a. 42
b. 34
c. 167
d. 97
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Last year, a study showed that the average ATM cash withdrawal took 65 seconds with a standard devia...
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