compute and choose answer

timer Asked: May 7th, 2015

Question description

Suppose we want to build an interval estimate for the
proportion of Indiana households who live in owneroccupied houses with a 95% confidence level and a margin
of error of ±0.02 (two percentage points). What is the
minimum sample size to achieve this margin of error? Use
0.70 for the planning value.
a)  1537
b)  1801
c)  2017
d)  2401
16)  We can make a confidence interval more precise (narrower)
a)  increasing the sample size.
b)  reducing the confidence level.
c)  increasing the confidence level.
d)  both (a) and (b) are correct.
17)  An interval estimate for the mean weekly wage of Illinois
workers had a lower and upper end, respectively of  $1,055
and $1,153.  The sample size was n = 196, with a standard
deviation of $294. What is the confidence level for this
interval estimate?
a)  99 percent
b)  98 percent
c)  95 percent
d)  90 percent

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