Monday, December 30, 2013

A study was conducted to estimate the mean amount spent on birthday gifts for a typical family having two chil?

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A study was conducted to estimate the mean amount spent on birthday gifts for a typical family having two children. A sample of 120 was taken, and the mean amount spent was $195.37. Assuming a standard deviation equal to $37.87, find the 90% confidence interval for m, the mean for all such families (show all work).


Answer
Sample mean = 195.37
Standard deviation = 37.87
Standard error of mean = s / â n
Standard error of mean = 37.87 / â 120
SE = 37.87/10.9545
Standard error of mean 3.457
Confidence interval 195.37-(3.457)(1.655)
and 195.37+(3.457)(1.655)
90% (189.65, 201.09)

Note:
In your question, you have stated 'assuming a standard deviation of 37.87).
I have computed the confidence interval with sample mean 195.37 and sample standard deviation 37.87 which means you should use the t-distribution (rather than normal distribution) which has a value of 1.655.

If your standard deviation is the population standard deviation you would use 1.645 instead.
Assuming sigma (population standard deviation is known), here is another confidence interval.
Sample mean = 195.37
Standard deviation = 37.87
Standard error of mean = Ï / â n
Standard error of mean = 37.87 / â 120
SE = 37.87/10.9545
Standard error of mean 3.457
Confidence interval 195.37-(3.457)(1.645)
and 195.37+(3.457)(1.645)
90% confidence interval (189.68, 201.06)

The two intervals are more or less the same because of the large sample size.

I just received a burgundy leather jacket and needing help with wearing this jacket for the winter?

Q. I received A burgundy leather jacket as a birthday gift.What color leather boots would look nice with this jacket or leather purse? Thanks!!


Answer
In this pic the girl is totally working it:http://images.google.com/imgres?imgurl=http://s2.thisnext.com/media/230x230_no_border/vintage-burgundy-80s-leather_7135ABEE-Vintageous-yellow.jpg&imgrefurl=http://www.thisnext.com/item/3EA9292E/72D507D7/vintage-burgundy-80s-leather&usg=__3p3Cp2b1sAgPLqFZdKB5gnPvyRE=&h=191&w=230&sz=33&hl=en&start=10&um=1&tbnid=DYixq0pA0h0lfM:&tbnh=90&tbnw=108&prev=/images%3Fq%3Dburgundy%2Bleather%2Bjacket%26um%3D1%26hl%3Den%26rlz%3D1G1GGLQ_ENUS299%26sa%3DN

This year in fashion has been all about mixing-leathers, colors, metals, prints... So own your jacket! You could even mix in some colored scarves (keep the rest of you look simple-all black), like another answerer mentioned:orange!

Here's another look, a bit more funky vintage, but I love it: http://farm3.static.flickr.com/2361/2015931359_446b5b5273_b.jpg




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