The value of z* should be used to construct a 97 confidence interval of a population mean is 2.17.
<h3>What is confidence interval?</h3>
A degree of uncertainty and certainty in a sample process is measured by confidence intervals. They can choose from a variety of probability limitations, the most frequent becoming a 95% or 99% confidence level.
Some characteristics of confidence interval are-
- Statistical tools, such as the t-test, are used to compute confidence intervals.
- Confidence intervals are used by statisticians to quantify uncertainty in such a sample variable.
- A researcher, for example, may randomly select multiple samples drawn from the same population and compute a confidence interval for every sample to determine how well it might represent the real value of a population variable.
- The generated datasets are all unique; some intervals contain the genuine population parameter while others do not.
Now, according to the question;
The confidence level is given 97%.
Thus, the crucial value of z for a 97% confidence interval is 2.17, as determined by a z score table, which is as follows:
Therefore the obtained probability for the z-score of 2.17 is 0.97.
To know more about the confidence interval, here
brainly.com/question/15712887
#SPJ4
<h3>
Answer:</h3>
The reasoning is correct. The ratio of number of bulbs tested to defective bulbs is always 14 to 1.
<h3>
Step-by-step explanation:</h3>
We generally expect industrial processes to produce defects at about the same rate, meaning the proportion of defective product is generally considered to be a constant. Here, the proportion of defective bulbs is ...
... 1/14 = 2/28 = 6/84
so we expect it will be also 24/336. That is, the ratio of the number of bulbs tested to defective bulbs is expected to remain constant at about 14.
Answer: hello your question lacks some data hence I will be making an assumption to help resolve the problem within the scope of the question
answer:
≈ 95 units ( output level )
Step-by-step explanation:
Given data :
P = 2000 - Q/10
TC = 2Q^2 + 10Q + 200 ( assumed value )
<u>The output level where a purely monopolistic market will maximize profit</u>
<u>at MR = MC </u>
P = 2000 - Q/10 ------ ( 1 )
PQ = 2000Q - Q^2 / 10 ( aka TR )
MR = d (TR ) / dQ = 2000 - 2Q/10 = 2000 - Q/5
TC = 2Q^2 + 10Q + 200 ---- ( 2 )
MC = d (TC) / dQ = 4Q + 10
equating MR = MC
2000 - Q/5 = 4Q + 10
2000 - 10 = 4Q + Q/5
1990 = 20Q + Q
∴ Q = 1990 / 21 = 94.76 ≈ 95 units ( output level )
hopefully this will help :)
