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    Chapter 4 - Sampling

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    Mỹ Khanhhh
    The document discusses 9 problems related to sampling and probabilities. It addresses topics like determining the probability that a sample mean will fall within a certain range of the population mean, calculating probabilities based on given population standard deviations and sample sizes, estimating a population proportion from a sample, and determining the necessary sample size to estimate a population proportion within a given standard deviation.

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    Chapter 4 - Sampling

    Uploaded by

    Mỹ Khanhhh
    41 views3 pages
    The document discusses 9 problems related to sampling and probabilities. It addresses topics like determining the probability that a sample mean will fall within a certain range of the population mean, calculating probabilities based on given population standard deviations and sample sizes, estimating a population proportion from a sample, and determining the necessary sample size to estimate a population proportion within a given standard deviation.

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    CHAPTER 4_ SAMPLING

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    The document discusses 9 problems related to sampling and probabilities. It addresses topics like determining the probability that a sample mean will fall within a certain range of the population mean, calculating probabilities based on given population standard deviations and sample sizes, estimating a population proportion from a sample, and determining the necessary sample size to estimate a population proportion within a given standard deviation.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    41 views3 pages

    Chapter 4 - Sampling

    Uploaded by

    Mỹ Khanhhh
    The document discusses 9 problems related to sampling and probabilities. It addresses topics like determining the probability that a sample mean will fall within a certain range of the population mean, calculating probabilities based on given population standard deviations and sample sizes, estimating a population proportion from a sample, and determining the necessary sample size to estimate a population proportion within a given standard deviation.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 3

    SAMPLING

    Problem 1
    If the population mean is 1,247, the population variance is 10,000 and the sample size
    is 100, what is the probability that X (sample mean) will be less than 1,230?

    Problem 2:
    When sampling is from a population with standard deviation 55, using sample of size
    n=150, what is the probability that will be at least 8 units away from the population mean?

    Problem 3:
    An economist wishes to estimate the average family income in a certain population.
    The population standard deviation is known to be $4,500, and the economist uses a random
    sample of size = 225. What is the probability that the sample mean will fall within $800 of
    the population mean?

    Problem 4:
    According to Money, in the year prior to March 2007, the average return for firms of
    the S&P 500 was 13.1%.9 Assume that the standard deviation of returns was 1.2%. If a
    random sample of 36 companies in the S&P 500 is selected, what is the probability that
    their average return for this period will be between 12% and 15%?

    Problem 5:
    Shimano mountain bikes are displayed in chic clothing boutiques in Milan, Italy, and
    the average price for the bike in the city is $700. Suppose that the standard deviation of bike
    prices is $100. If a random sample of 60 boutiques is selected, what is the probability that
    the average price for a Shimano mountain bike in this sample will be between $680 and
    $720?

    Problem 6:
    When sampling is done for the proportion of defective items in a large shipment,
    where the population proportion is 0.18 and the sample size is 200, what is the probability
    that the sample proportion will be at least 0.20?

    Problem 7:
    A study of the investment industry claims that 58% of all mutual funds outperformed
    the stock market as a whole last year. An analyst wants to test this claim and obtains a

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    random sample of 250 mutual funds. The analyst finds that only 123 of the funds
    outperformed the market during the year. Determine the probability that another random
    sample would lead to a sample proportion as low as or lower than the one obtained by the
    analyst, assuming the proportion of all mutual funds that outperformed the market is indeed
    0.58.

    Problem 8:
    The proportion of defective microcomputer disks of a certain kind is believed to be
    anywhere from 0.06 to 0.10. The manufacturer wants to draw a random sample and
    estimate the proportion of all defective disks. How large should the sample be to ensure that
    the standard deviation of the estimator is at most 0.03?

    Problem 9:
    Residential real estate in New York rents for an average of $44 per square foot, for a
    certain segment of the market.14 If the population standard deviation is $7, and a random
    sample of 50 properties is chosen
    a. What is the probability that the sample average will be below $35?
    b. Give 0.95 probability bounds on the value of the sample mean that would be
    obtained. Also give 0.90 probability bounds on the value of the sample mean.

    Source: Thanh Le - Ho

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