The posterior pdf is f(θ|data) = N(64.3, 2.16). Random samples of size 16 are drawn from this … << /Linearized 1 /L 296444 /H [ 1413 241 ] /O 12 /E 276743 /N 2 /T 296146 >> stream É֐àûóۈI§Ó "ù@,±ÎuòŒ*14¼^XÃfyt³ÛÑMÜH9'WxD»‹yÛ}eH½ ×6Ž‹wU6Ýaސo‘-‹‘˜Á6±(²„2xL¾ Ïpe-o—¯èE³ÈR*ØÛYNs5ܶ¹‡. Business Statistics Final Exam Solutions December 17, 2008 4 18. 0000052054 00000 n %# , #&')*)-0-(0%()(�� C It rst occurs onan exam taken by 400 students. Figure 3 illustrates the effect of changing the confidence level to 80%. (2 pts) Based on your Business Statistics class in the Global MBA program, you know that a confidence interval is wider if: (a) A larger sample (n) is used. x¯ = 6:7;s = 2:03;n = 217 ¯x 1.96z? 2.16, 64.3 + z 0.025 2.16 = [61.442, 67.206] (d) There’s no one correct answer; each method has its own advantages and disadvantages. $4�%�&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz�������������������������������������������������������������������������� ? 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The p-value is less than 0.1, so it is significant at 0.1 level. endobj The p-value is bigger than 0.05, so it is not significant at 0.05 level. Square both sides and you get an n equal to 43.3. 0000209886 00000 n 0000105487 00000 n << /BaseFont /TimesNewRomanPSMT /DescendantFonts [ 35 0 R ] /Encoding /Identity-H /Subtype /Type0 /ToUnicode 36 0 R /Type /Font >> With 95% confidence the prevalence of cardiovascular disease in men is between 12.0 to 15.2%. Confidence Intervals: The Four-Step Process State: What is the practical question that requires estimating a parameter? Solve: Carry out the work in two phases: 1. << /BaseFont /MS-Gothic /DescendantFonts [ 31 0 R ] /Encoding /Identity-H /Subtype /Type0 /ToUnicode 32 0 R /Type /Font >> A . 0000108185 00000 n 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