[|] Answer [|]
[|] Explanation [|]
3x + 5 = 23
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Subtract 5 From Both Sides:
3x + 5 - 5 = 23 - 5
Simplify:
3x = 18
Divide Both Sides By 3:
Simplify:
X = 6
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- Check Your Work -
Substitute 6 For X:
3 * 6 + 5 = 23
Parenthesis
Exponents
Multiply
Divide
Add
Subtract
3 * 6 = 18
18 + 5 = 23
Answer:
a) The 99% confidence interval is from 14.8% to 23.2%.
b) The confidence interval tells us that the true proportion of mislabeled is within 14.8% and 23.2%, with a 99% confidence. In other words, if we take samples of the same size, 99% of the samples will have a proportion within 0.148 and 0.232.
c) The confidence interval calculation take into account the sample size, so the width (or precision) of the interval depends on the sample size.
The only criticism that could be analyzed is to see if the sample is representative of the population.
Step-by-step explanation:
a) We have to calculate a 99% confidence interval for the proportion.
The sample proportion is p=0.19.
The standard error of the proportion is:
The critical z-value for a 99% confidence interval is z=2.576.
The margin of error (MOE) can be calculated as:
Then, the lower and upper bounds of the confidence interval are:
The 99% confidence interval for the population proportion is (0.148, 0.232).
Answer:
The stock price beyond which 0.05 of the distribution fall is $12.44.
Step-by-step explanation:
Normal Probability Distribution:
Problems of normal distributions can be solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
Mean of $8.52 with a standard deviation of $2.38
This means that
The stock price beyond which 0.05 of the distribution fall is
This is the 100 - 5 = 95th percentile, which is X when Z has a pvalue of 0.95. So X when Z = 1.645.
The stock price beyond which 0.05 of the distribution fall is $12.44.