Principles of Statistics STA 201 OL011 Complete Solution

Question: #8064

Principles of Statistics (STA-201-OL011)

Textbook Section 8.1, 8.2, 8.3, 9.1, 9.2, 9.3, 9.4, 9.5, 10.1, 10.2, 10.3, 10.5, 12.1, 12.2, and 12.3
Case Study: The Bank Robberies (p. 366)

VARIABLE   MEAN   STANDARD DEVIATION
Amount stolen (pounds sterling)   20,330.5   53,510.2
Number of bank staff present   5.417   4.336
Number of customers present   2.000   3.684
Number of bank raiders   1.637   0.971
Travel time, in minutes from bank to nearest police station   4.557   4.028

a. Identify and interpret a point estimate for the mean of each of the five aforementioned variables.

b. Find and interpret a 95% confidence interval for the mean amount stolen.

c. Find and interpret a 95% confidence interval for the mean number of bank staff present at the time of robberies.

d. Determine and interpret a 95% confidence interval for the mean number of customers present at the time of robberies.

e. Determine and interpret a 95% confidence interval for the mean number or bank raiders.

f. Obtain and interpret a 95% confidence interval for the mean travel time from the nearest police station to the bank outlet.

Solution: #8067

Principles of Statistics (STA-201-OL011) Complete Solution

- The point estimate for Amount stolen (pounds sterling) is 20,330.5. It means that the average Amount stolen (pounds sterling) is 20,330.5. - The point estimate for Number of ...