subject
Mathematics, 30.08.2019 00:30 xman839

Using normal distribution to analyze data martin suspects that people carry less cash with them than they used to because of credit cards and other cashless payment systems. he decides to work on inventing a new system for people to use in place of cash that would be more user friendly and safe. martin conducted a survey to convince investors to back the development of his new cashless system. one afternoon at the local mall, martin surveyed a random sample of 95 people and asked the question, how much cash are you carrying in your wallet? the mean of his data is $8.00 with a standard deviation of $2.50. assume the data is normally distributed. based on this information, answer the following questions. part a question select the correct answer. what is the probability that a person who was surveyed has less than $5 in his or her wallet? use the normal distribution table to you in your calculations. 11.51% 21.19% 78.81% 88.49% part b question select the correct answer. what is the probability that a person who was surveyed has between $9 and $10 in his or her wallet? use the normal distribution table. 13.27% 31.04% 41.34% 86.73% part c now, martin can reasonably guess that the standard deviation for the entire population of people at the mall during the time of the survey is $1.50. what is the 95% confidence interval about the sample mean? interpret what this means in the context of the situation where 95 people were surveyed and the sample mean is $8. use the information in this resource to construct the confidence interval. font sizes characters used: 0 / 15000 part d would the interval found in part c increase, decrease, or remain the same if the confidence level desired were 99%? state your reasoning. font sizes characters used: 0 / 15000 part e would the interval found in part c increase, decrease, or remain the same if fewer than 95 people were surveyed? justify your answer. font sizes characters used: 0 / 15000

ansver
Answers: 1

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 15:00, mrus
Which statements regarding the diagram are true? check all that apply.
Answers: 1
image
Mathematics, 21.06.2019 15:30, bankzdown
Kevin is an insurance salesman. when he sells a policy, he makes 20 percent of the policy premium (p) up front; then each year the policy is active, he receives 15 percent of the original premium. which equation could be used to figure his total commission on a policy that has been active for five years? c=0.80p c=0.20p + 0.15p c=0.35p + 4(0.15) c=0.95p
Answers: 1
image
Mathematics, 21.06.2019 18:30, george6871
Abus travels 36 miles in 45 minutes. enter the number of miles the bus travels in 60 minutes at this rate.
Answers: 2
image
Mathematics, 21.06.2019 19:00, legacieenglish
Abarbecue sold 26 hamburgers and hot dogs. hamburgers sell for $3.50 each and hot dogs sell for $2.00 each. if the barbecue made $70 in sales, determine and state the number of hot dogs sold.
Answers: 1
You know the right answer?
Using normal distribution to analyze data martin suspects that people carry less cash with them than...

Questions in other subjects:

Konu
Mathematics, 24.02.2020 22:34
Konu
English, 24.02.2020 22:34