46 + 0.4841 = 5.9441 Confidence interval of 95% [4.976, 5.944] N = 100 X-bar = 5.46 s = 2.47 % = 99 Standard Error = σ/√n = 0.2470 z- score = 2.5758 Width = 2.5758 * 0.2470 = 0.6362 Lower Limit = 5.46 – 0.6362 = 4.8238 Upper Limit = 5.46 + 0.6362 = 6.0962 Confidence interval of 99% [4.824, 6.096] B) Since the entire confidence interval is less than 6 the manager can confident that 95% is less than 6 minutes. C) Because the confidence interval at 99% is over 6 the manager
Words: 400 - Pages: 2
Bootstrapping Regression Models Appendix to An R and S-PLUS Companion to Applied Regression John Fox January 2002 1 Basic Ideas Bootstrapping is a general approach to statistical inference based on building a sampling distribution for a statistic by resampling from the data at hand. The term ‘bootstrapping,’ due to Efron (1979), is an allusion to the expression ‘pulling oneself up by one’s bootstraps’ – in this case, using the sample data as a population from which repeated samples
Words: 3819 - Pages: 16
Descriptives | GPARBD | | N | Mean | Std. Deviation | Std. Error | 95% Confidence Interval for Mean | Minimum | Maximum | | | | | | Lower Bound | Upper Bound | | | Method-A | 5 | 62.0000 | 5.24404 | 2.34521 | 55.4887 | 68.5113 | 55.00 | 67.00 | Method-2 | 5 | 66.0000 | 5.14782 | 2.30217 | 59.6081 | 72.3919 | 58.00 | 71.00 | Method-3 | 5 | 52.0000 | 5.56776 | 2.48998 | 45.0867 | 58.9133 | 47.00 | 59.00 | Total | 15 | 60.0000 | 7.83764 | 2.02367 | 55.6597 | 64.3403 | 47.00 | 71
Words: 1297 - Pages: 6
Using the data provided we use Minitab to perform an analysis to determine the median grandparent life with a confidence interval of 95%. First we construct a distribution ID plot to compare four (4) distributions for visual analysis. The distributions selected are Weibull, Lognormal, Exponential, and 3-parameter Weibull. The results are shown in Figure 1. Figure 1. Distribution ID Plot The data shows that the distributions with the best fit are Weibull and the Lognormal. We choose to pursue
Words: 354 - Pages: 2
the mean to get the variance, we divided by 30-1 to get a standard deviation of 0.55 (rounded down to two decimal places). Construct a 95% Confidence Interval for the ounces in the bottles. In order to construct a confidence interval, we need several statistics. The first is the sample mean, which is 14.9. Since we have selected a confidence interval of 95%, we need to find the margin of error to calculate our findings. Using the t-score model ( compute alpha, find the critical probability
Words: 845 - Pages: 4
t-Test project about NHL Salaries James N. Bueby Embry Riddle Aeronautical University INTRODUCTON After researching through many NHL websites I have always wondered how NHL salaries match up to other sports. ESPN website reports that the average currently paid NFL player makes $1,972,273.61. Is the average salary for a currently paid NHL player less than 1,972,273.6? Meaning do NHL players on average make less than NFL players? I have been watching professional sports ever since I can
Words: 985 - Pages: 4
Bootstrapping (statistics) From Wikipedia, the free encyclopedia In statistics, bootstrapping is a method for assigning measures of accuracy (defined in terms of bias, variance, confidence intervals, prediction error or some other such measure) to sample estimates.[1][2] This technique allows estimation of the sampling distribution of almost any statistic using only very simple methods.[3][4] Generally, it falls in the broader class of resampling methods. Bootstrapping is the practice of estimating
Words: 4741 - Pages: 19
summary results from #1 & #2. Discuss any specific statistical results that would help a real estate agent understand the condominium market. 4. A 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Also, interpret the results. 5. A 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Also, interpret the results. Also, consider
Words: 913 - Pages: 4
been met. Approach: The Business Analytics Department used the following statistical tools to examine CCResort: 1. Descriptive Statistics (Mean, Mode, Range, Median, Skewness and graphical interpretations) 2. Correlation 3. Confidence Intervals 4. Hypothesis Testing Significant Findings: * CCResort typically hosts families in a higher income bracket over $100,000 (69% of guests) * Guests stay seven nights on average between 44.07% and 57.93% of the time with a 95% certainty
Words: 2041 - Pages: 9
In the following paragraphs I have prepared my results of the mean average income, population of urban customers to total customers, number of years customers have lived in their current homes, and average customers credit balance. The first variable I will discuss is the likelihood the average income is less than $50,000. After looking at the sample of the customers I have discovered that the average annual income falls between $39,680 and $47,800. When it was tested further we have strong evidence
Words: 529 - Pages: 3
