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V125BC [204]
2 years ago
5

An assistant to the mayor, who claims to understand statistics, complains about your confidence interval calculation. She assert

s that the dollar losses from burglaries are not normally distributed, which in turn makes the confidence interval calculations meaningless. Assume that she is correct about the distribution of money loss. Why are the calculations of a confidence interval still appropriate? According to the central limit theorem any distribution is considered normal if n is greater than ____. This sample is 500 so the distribution of the sample means will be normal, no matter what the shape of the actual distribution of dollar losses.
Business
1 answer:
DaniilM [7]2 years ago
4 0

Answer:

29

Explanation:

Central limit theorem states that as a sample being studied grows larger the sampling distribution of samplings means tends to a more normal distribution. This is regardless of the shape of the population.

This holds true usually if the population size is n is equal or greater than 30 (that is greater than 29). It does not matter if the population is skewed or normal.

So with a sufficiently large population the means of each item will be the same as the population mean.

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Devin invested $750 in a CD that pays 6% simple interest, calculated quarterly. How much money will Devin earn in 3 years?
natima [27]
13500 dollars in three years
4 0
2 years ago
Read 2 more answers
Label demand as elastic, unit elastic, or inelastic for each scenario. Use the midpoint method when applicable to calculate the
oksian1 [2.3K]

Answer:

  1. Contain Yourself!, a plastic container company, raises the price of its signature Lunchbox container from $3.00 to $4.00 . As a result, the quantity sold drops from 20,000 to 15,000 = unit elastic
  2. Economists working for the United States have determined that the elasticity of demand for gasoline is 0.5 = inelastic
  3. Capital Metro decides to increase bus fare rates from $2.00 to $2.21 . Consequently, the number of passengers who decide to take the bus in Austin drops from an average of 70,000 riders a day to an average of 61,000 riders a day = elastic

Explanation:

  1. The demand for unit elasticity is an intermediate situation between an elastic and an inelastic demand curve, in which the price elasticity is equal to one, which means that given variations in the price, the total income does not change (price per quantity). Eslasticity=1
  2. Demand is inelastic when the percentage variation of the quantity demanded is less than the percentage variation of the price. Elasticity less than 1
  3. Elastic demand is when a small variation in the price causes a more than proportional change in the quantity demanded. Elasticity more than 1

7 0
2 years ago
Companies that manufacture products with a very ______ product life cycle have ______ as their core competency.
Citrus2011 [14]

Answer:

short, innovation

Explanation:

Manufacturing of short product cycle have the innovation requires for competency compare to those companies that manufacture on long product cycle.

It should be noted that Companies that manufacture products with a very short product life cycle have innovation as their core competency.

4 0
1 year ago
A townhouse is purchased for $475,000. If the transfer tax is $2.00 on the first $1,000. and $0.10 for each additional $100., ho
masya89 [10]

Based on the information given the amount of the transfer taxes is $476.

Using this formula

Total transfer tax=[(Purchased price+ First transfer tax)×(Additional tax)]+Transfer tax

Let plug in the formula

Total transfer tax=[($475,000-$1,000)×($0.10/$100)]+$2

Total transfer tax = ([$474,000 x .001] + $2)

Total transfer tax=$474+$2

Total transfer tax=$476

Inconclusion the amount of the transfer taxes is $476.

Learn more here:brainly.com/question/17122829

5 0
1 year ago
Businesses commonly rely upon groups to make decisions because of the many advantages to group decision making. Which of the fol
Andrei [34K]

Answer:

Almost every other business in this universe now relies upon group thinking rather than individual approach to anything.

It has several advantages, some of them are pointed out below:

o) Equality bias, when there are group discussion, this means that everyone has a part of say in the final decision and that leads to equality bias, which is beneficial.

o) More alternatives are generated, it is a fact that when an individual takes a decision, he/she is neglecting a lot of other options to explore which could be a lot beneficial for the business.

o) More acceptance of the final decision, Since the final decision taken is with the approval and consent of everyone, there is a possibility that the final decision will be more acceptable.

o) Lastly, It creates Synergy, synergy is the idea that a decision as a whole is better than in parts.

Hope this helps you. Good Luck.

3 0
1 year ago
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