(Solved): Question 2 What are the two types of statistical inferences? Mean and Standard Deviation Sample and ...
Question 2 What are the two types of statistical inferences? Mean and Standard Deviation Sample and Population Confidence Interval and Hypothesis Test Observational Study and Experiment Study Question 3 Inferences are process to draw conclusions about population. Which population parameter are we making inferences of in our class? Population Mean Population Regression Population Standard Deviation Population Correlation Question 4 Sam wants to estimate the average price of hotels in Las Cruces, New Mexico. He randomly selected 10 hotels and asked about the price for the standard room, and it is found that the average price is
$78and standard deviation is
$24for those 10 hotels. If it is known that the population standard deviation of hotel prices is
$20, what should be the correct formula to calculate a
95%confidence interval of the hotel price in Las Cruces?
78+-1.960**(24)/(\sqrt(10))
78+-1.645**(20)/(\sqrt(10))
78+-1.960**(20)/(\sqrt(10-1))
78+-1.960**(20)/(\sqrt(10))Question 5 A smaller margin of error will produce a narrower confidence interval. Margin of error for
z-confidence interval is expressed as
z^(**)(\sigma )/(\sqrt(n)), where
z^(**)is related to confidence level. Which of the following is the best way to reduce Margin of Error? Increase Sample Size. Decrease Sample Size. Decrease Sample Mean. Increase Confidence Level.
