Answer:
- a) NTRD standard price = $26.30
- b) range: $11.20 to $33.00, a range of $21.80
Step-by-step explanation:
a) The average is the sum divided by the number of contributors. Let n represent the standard price at Night-Time Rest Days. Then ...
... ($22.45 +18.55 +24.50 +11.20 +n)/5 = $20.60
... 76.70 + n = 103.00 . . . . multiply by 5 and collect terms
... n = $26.30 . . . . standard price at NTRD
b) The lowest standard price is $11.20. The highest breakfast price is $33.00. The range is the difference between these ...
... $33.00 -11.20 = $21.80 . . . . range in cost for a single night
Janet earns more money because she gets paid $8 every 30minutes and in other words is that per hour she gets paid $16. Whereas Sam gets paid $15 every hour. The amount paid at the start determines who gets more
Answer:
parameter
Step-by-step explanation:
Answer:
(0.55, 0.75)
Step-by-step explanation:
The standard deviation and range are both used to measure the spread of a data set. The number of the range and standard deviation gives us information in its own way how spaced out the data are due to the fact that they are both a measure of variation. However, there is not an explicit relationship between the range and standard deviation, there is a rule of thumb that can be useful to relate these two statistics. This relationship is sometimes referred to as the range rule for standard deviation.
The range is estimated to be 6 standard deviations wide. Therefore, the standard deviation is:
Standard deviation= maximum sample proportion - minimum sample proportion / 6
σ = (0.72 - 0.42) / 6
σ = 0.05
The margin of error is defined as a statistic showing the amount of random sampling error in the result of a survey. The greater the margin of error, the lesser the confidence that a poll result would reflect the result of a survey of the entire population.
Here, the margin of error is ±2σ, so:
ME = ±0.10
Interval estimation in statistics is the use of sample data to compute an interval of possible values of an unknown population parameter. This is therefore in contrast to point estimation, which gives a single value.
Therefore, the interval estimate is:
(0.65 - 0.10, 0.65 + 0.10)
(0.55, 0.75)
