A bank withdrawal of $50

Mathematics

1 answer:

Kryger [21]3 years ago

3 0

A bank withdrawal of $50 is a reasonable amount for the average American person.

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14) You and your friend to out to eat and the cost of the meals

MaRussiya [10]

Answer:

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Step-by-step explanation:

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3 years ago

We guess, based on historical data, that 30% of graduating high-school seniors in a large city will have completed a first-year

Annette [7]

Answer:

$n=\frac{0.3(1-0.3)}{(\frac{0.025}{1.96})^2}=1290.78$

And rounded up we have that n=1291

Step-by-step explanation:

1) Previous concepts

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The population proportion have the following distribution

$p \sim N(p,\sqrt{\frac{p(1-p)}{n}})$

2) Solution to the problem

In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 95% of confidence, our significance level would be given by $\alpha=1-0.95=0.05$ and $\alpha/2 =0.025$ . And the critical value would be given by: