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I need help with this question a family has an annual income of $25,200. Of this, ¼ is spent for food, 1/5 for housing, 1/10 for clothing, 1/9 for savings, ¼ for taxes, and the rest for other expenses. How much is spent for housing?
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Week 4 Understanding Confidence Intervals Video Discussion
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Week 4 Understanding Confidence Intervals Video Discussion
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MAT 240 Southern New Hampshire University Week 6 B&K Real Estate Company Worksheet
The B&K Real Estate Company sells homes and is currently serving the Southeast region. It has recently expanded to cover t ...
MAT 240 Southern New Hampshire University Week 6 B&K Real Estate Company Worksheet
The B&K Real Estate Company sells homes and is currently serving the Southeast region. It has recently expanded to cover the Northeast states. The B&K realtors are excited to now cover the entire East Coast and are working to prepare their southern agents to expand their reach to the Northeast.B&K has hired your company to analyze the Northeast home listing prices in order to give information to their agents about the mean listing price at 95% confidence. Your company offers two analysis packages: one based on a sample size of 100 listings, and another based on a sample size of 1,000 listings. Because there is an additional cost for data collection, your company charges more for the package with 1,000 listings than for the package with 100 listings.Sample size of 100 listings:95% confidence interval for the mean of the Northeast house listing price has a margin of error of $25,000Cost for service to B&K: $2,000Sample size of 1,000 listings:95% confidence interval for the mean of the Northeast house listing price has a margin of error of $5,000Cost for service to B&K: $10,000The B&K management team does not understand the tradeoff between confidence level, sample size, and margin of error. B&K would like you to come back with your recommendation of the sample size that would provide the sales agents with the best understanding of northeast home prices at the lowest cost for service to B&K.In other words, which option is preferable?Spending more on data collection and having a smaller margin of errorSpending less on data collection and having a larger margin of errorChoosing an option somewhere in the middleFor your initial post:Formulate a recommendation and write a confidence statement in the context of this scenario. For the purposes of writing your confidence statement, assume the sample mean house listing price is $310,000 for both packages. “I am [#] % confident the true mean . . . [in context].”Explain the factors that went into your recommendation, including a discussion of the margin of error
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Most Popular Content
Week 4 Understanding Confidence Intervals Video Discussion
Constructing Confidence Intervals Watch this video https://www.youtube.com/watch?v=tFWsuO9f74o What is a confidence i ...
Week 4 Understanding Confidence Intervals Video Discussion
Constructing Confidence Intervals Watch this video https://www.youtube.com/watch?v=tFWsuO9f74o What is a confidence interval?What are some factors that affect the size of a confidence interval?In the discussion for week 4, you rolled a pair of dice 10 times and calculated the average sum of your rolls. Then you did the same thing with 20 rolls. Use your results from the week 4 discussion for the average of 10 rolls and for the average of 20 rolls to construct a 95% confidence interval for the true mean of the sum of a pair of dice (assume σ = 2.41). What do you notice about the length of the interval for the mean of 10 rolls versus the mean of 20 rolls? Did you expect this? Why or why not?Using your mean for 20 rolls, calculate the 90% confidence interval. Explain its size as compared to the 95% confidence interval for 20 rolls. This is my work from week 4: Sampling a pair of die discussion question. One die has six possible outcomes when it is rolled; while two die has 6^2 = 36 possible outcomes when rolled together. Rolling the die ten times produces a 6^10 possible outcomes. Rolling it 20 times produces a 6^20 possible outcomes. Outcomes for the first ten rolls of a die First, die Second, die sum 4 6 10 3 1 4 5 2 7 3 5 8 5 4 9 5 2 7 1 2 3 6 1 7 2 5 7 2 4 6 Total = 68 Average = sum/number of rolls = 68/10 = 6.8 Outcomes for the second 20 rolls of a die First, die Second, die sum 3 2 5 4 6 10 5 6 11 5 6 11 2 2 4 1 3 4 5 5 10 2 6 8 1 4 5 5 5 10 3 6 9 1 2 3 2 2 4 6 5 11 3 5 8 2 2 4 3 3 6 2 5 7 6 4 10 1 1 2 Total = 142 Average = sum/number of rolls = 142/20 = 7.1 A central limit theorem is a theorem which allows us to work with approximately normal distribution by simplifying problems in statistics (Rosenblatt, 1956). The central limit theorem states that the average of a sample distribution approaches normal distribution average as the size of the sample increases. It says that in a test of rolling a die, as the number of rolling a die increases the average of a distribution sample tends to be a normal distribution. While testing the rolling of a pair of die, I’ve determined that the average of rolling a die is 7. These results show that when the number of rolling a die increases, the average leans towards seven thus proving the central limit theorem.
MAT 240 Southern New Hampshire University Week 6 B&K Real Estate Company Worksheet
The B&K Real Estate Company sells homes and is currently serving the Southeast region. It has recently expanded to cover t ...
MAT 240 Southern New Hampshire University Week 6 B&K Real Estate Company Worksheet
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The suggested activities in the lesson plan are important since they facilitate the understanding of the taught concepts. For instance, the ...
Create Variable Control Charts
Control charts assist health care administration leaders in determining which processes in their health services organizat ...
Create Variable Control Charts
Control charts assist health care administration leaders in determining which processes in their health services organization are in control. As a tool, creating variable control charts such as the Xbar and R charts are useful since they help to present the data in meaningful ways, which allow health care administration leaders to make quick decisions regarding those processes not in control.For this Assignment, review the resources for this week that are specific to variable control charts. Focus on mimicking the development of the Xbar and R charts in the chapter rather than the Xbar and S charts or I-MR charts.The Assignment: (3–4 pages)Using SPSS and Microsoft Word, complete problems 1 through 5 on pages 263–264 in the Ross textbook. Show allwork. Submit both your SPSS and Word files.
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