(BQ) Part 2 book "Basic statistics for business & economics" has contents: Estimation and confidence intervals; one sample tests of hypothesis; two sample tests of hypothesis; analysis of variance; linear regression and correlation; multiple regression and correlation analysis; chi square applications | Estimation and Confidence Intervals GOALS When you have completed this chapter you will be able to: I 2 Define a point estimate. Define level of confidence. Construct a confidence interval for the population mean when the population standard deviation is known. 3 Construct a confidence interval for a population mean when the population standard deviation is unknown. 4 Construct a confidence interval for a population proportion. 5 Determine the sample size for attribute and variable sampling. 6 The American Restaurant Association collected information on the number of meals eaten outside the home per week by young married couples. A survey of 60 couples showed the sample mean number of meals eaten outside the horne was meals per week. Construct a 97 percent confidence interval for the population mean. (See Goal 4 and Exercise 36.) 246 Chapter 9 Introduction The previous chapter began our discussion of statistical inference. It introduced the reasons and methods of sampling. The reasons for sampling were: Statistics in Action .on all new cars, a fuel economy-esti, , mate is prominently displayed onthe window sticker as I required by the Envi, I ronmentalProtec; ltion Agency (EPA). :'Often, fuel economy I is a factor in a consumer's choice of a I new car because of i fuel costs or environ. ['-meiifalconcerns:For . iI example, a 2004 ". I Toyota Celica's (4 cylinder)fuel esti· mates are per gallon on the highway and 29 mpg in the city. The EPA recognizes that actual fuel economy may differ from the , estimates bynothlg, "Notestcan simu· late all possible combinations of con· ditions and climate, , driverbehavior,and cat care habits. ' Actual mileage depends t:m how, when; and where the vehicle is driven. EPA has found that the mpgobtained by most drivers will be within a fe,w mpg of the estimates . " In fact, the window sticker also includes ',an interval estimate f()rfueleconomy: 21 t633mpg in the city and 31to 41 mpg on the .
