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WHAT IS ESTIMATOR AND ESTIMATE?
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WHAT IS THE EXPECTED VALUE OF THE SAMPLE MEAN?
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WHAT IS THE STANDARD ERROR OF THE SAMPLE MEAN?
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The chefs at a local pizza chain in Cambria, California, strive to maintain the suggested size of their 16-inch pizzas. Despite their best efforts, they are unable to make every pizza exactly 16 inches in diameter. The manager has determined that the size of the pizzas is normally distributed with a mean of 16 inches and a standard deviation of 0.8 inch. What are the expected value and the standard error of the sample mean derived from a random sample of 2 pizzas? What are the expected value and the standard error of the sample mean derived from a random sample of 4 pizzas? Compare the expected value and the standard error of the sample mean with those of an individual pizza.
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WHAT IS SAMPLING FROM A NORMAL POPULATION?
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The chefs at a local pizza chain in Cambria, California, strive to maintain the suggested size of their 16-inch pizzas. Despite their best efforts, they are unable to make every pizza exactly 16 inches in diameter. The manager has determined that the size of the pizzas is normally distributed with a mean of 16 inches and a standard deviation of 0.8 inch. a) What is the probability that a randomly selected pizza is less than 15.5 inches? b) What is the probability that 2 randomly selected pizzas average less than 15.5 inches? c) What is the probability that 4 randomly selected pizzas average less than 15.5 inches? d) Comment on the computed probabilities.
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WHAT IS THE CENTRAL LIMIT THEOREM FOR THE SAMPLE MEAN?
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Consider the information presented in the introductory case of this chapter. Recall that Anne wants to determine if the marketing campaign has had a lingering effect on the amount of money customers spend on iced coffee. Before the campaign, customers spent an average of $4.18 on iced coffee with a standard deviation of $0.84. Anne reports that the average amount, based on 50 customers sampled after the campaign, is $4.26. If Starbucks chose not to pursue the marketing campaign, how likely is it that customers will spend an average of $4.26 or more on iced coffee?
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