The number of adults that should be surveyed is 138 (Round up to the nearest whole number).
a) What is the standard error of the mean?
b) How would the standard error change if the sample size had been 5 instead of 20? (Assume that the sample standard deviation didn’t change).
80.70 45.42 46.89 83.80
28.19 48.65 29.17 50.75
31.17 72.20 32.29 52.41
72.43 33.13 74.04 87.73
16.41 38.40 58.79 59.00
a) The standard error of the mean is 4.68(Round to two decimal places as needed)
b) How would the standard error change if the sample size was 5 instead of 20 with the same sample standard deviation? Select the correct choice below and fill in any answer boxes within your choice.
a) The standard error would increase. The new standard error would be 2 times the old.
b) The standard error would decrease. The new standard error would be the old standard error divided by _____________
c) The standard error would not change.
What is the null and alternative hypothesis for this test?
Calculate the test statistic.
Z = 0.714(Round to three decimal places as needed)
What is the P-value for the test statistic?
P-Value =0.238(Round to three decimal places).
What can the investor conclude? Assume a=0.05
a) He rejects the null hypothesis and cannot claim that he is better at predicting increases than the typical portfolio manager.
b) He fails to reject the null hypothesis and can claim that he is better at predicting increases than the typical portfolio manager, but this conclusion may not be reliable. ‘
c) He fails to reject the null hypothesis and can not claim that he is better at predicting increases than the typical portfolio manager, but this conclusion may not be reliable.
d) He rejects the null hypothesis and can claim that he is better at predicting increases than the typical portfolio manager, but this conclusion may not be reliable.
a) To reduce the margin of error to about $6, how large would the sample size have to be?
b) How large would the sample size have to be to reduce the margin of error to $1.2?
a) The new sample size should be69(Round up to the nearest integer)
b) The new sample size should be 1717(Round up to the nearest integer).
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