Assignment 13

Sorry this is so late folks! My computer broke over the weekend which makes it a little difficult to write blog posts!

Luckily if you were in lab, Assignment 13 shouldn't have posed too much of a problem.

Questions 2-4: When you are doing these, remember what our "new" standard deviation is (aka what standard deviation is for a sampling distribution of x-bar). Particularly on question 3, think about what you are solving for, and where this symbol arrives in your equation. On this question, you won't be using an entire formula from your equation sheet. Adapt!

Questions 5-11 test your knowledge on the difference between the graph of an individual (population) or of a sample mean (sampling distribution of x-bar). Be careful what equation you use!!

Question 14 is probably the hardest for students, but you definitely know how to do it! The key for this problem is labeling what you know. Write down on your paper the equation. Then list the variables you have to fill:

mu, sigma, n, x-bar and z.

We clearly are solving for z to get a proportion. That means the values for mu, sigma, n and x-bar are given somewhere in this question. Find them! See how much easier this problem becomes once you label what you have? Then it is just plug and chug.

HINT: If it asks the probability that the company's average loss will not exceed, we are looking for the left proportion :) (less than).