Project #22978 - Statistics Weekly Homework

State Spreadsheet is attached.  I think the info you need is in part 3 of spreadsheet.

I've also attached my school book.

This activity will help you determine if you grasped some of the key topics from our study of Chapter 7 and in that way it will help prepare you for answering some of the inference questions covered on Quiz #3 as well as the final exam project assessment.  Furthermore, this activity meets the course outcome to determine reasonable inferences and predictions from a set of data to make appropriate decisions.

As with all the previous activities, and the future activities, in order to earn the full ten points (which are distributed as five points for part 1 and five points for part 2), your response to this activity must be complete and reasonable.  An incomplete response would be one that does not answer all parts or the computations for a part or parts are not completed.  An example of an unreasonable response would be one in which the point estimate is not located in the conference interval that was constructed from it (since the point estimate of the parameter for which the confidence interval was constructed must always contain that statistic).  SHOW YOUR WORK!

See Attached Spreadsheet

Part I: Sample Size
How many home prices need to be sampled from your state in order to construct a 93% confidence interval, for the population mean, that has a margin of error of at most \$10,000?  (Use the appropriate statistics from your untrimmed price data when making your calculations.)

Part II: Confidence Interval
To construct a 95% confidence interval for the proportion (percentage) of homes in your state that are at least 2000 square feet in size, we first need an estimate for the population proportion.

1. Using your original (untrimmed) sample, state the value of p-hat. (See the table constructed in Part 6 of your spreadsheet in order to help you calculate p-hat.)

^

p is read p-hat.

(Notice the hat "^" on top of the letter p, although it should be directly on top instead of so high above the letter p, indicates that this is the sample proportion of successes.)

1. Using the value you calculated for p-hat for your state, are n times p-hat and n times q-hat both greater than or equal to 5? Note that n is your sample size.

1. If your answer to part b is yes, then construct the 95% confidence interval for p, the population proportion of homes in your state that are at least 2000 square feet in size. If your answer to part b is no, then you cannot use the normal distribution to approximate the binomial distribution, but please try constructing the CI using the normal distribution to ensure that you understand how to construct a confidence interval even though the interval that you will construct in this case, using the normal distribution when the normal distribution is not appropriate, is misleading and considered a misuse/abuse of statistics.

Write an interpretation (that is, determine a reasonable inference and prediction that then could be used to make appropriate decisions) for the confidence interval you constructed in the context of the sizes.

 Subject Mathematics Due By (Pacific Time) 02/18/2014 06:00 pm
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