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GM533 Applied Managerial   Statistics Week 4            B. Heardhttp://www.facebook.com/statcave
Week 4 GM533• These are considered practice problems, thus  I’m going to walk you through them.• Do these on your own and ...
Week 4 GM533• Finding a z-based confidence interval for a  Population Mean Sigma Known
Week 4 GM533• In Minitab• Stat >> Basic Statistics >> 1 sample z
Week 4 GM533
Week 4 GM533• Finding a t Based Confidence Interval for a  Population Mean Sigma Unknown
Week 4 GM533• In Minitab• Stat >> Basic Statistics >> 1 sample t
Week 4 GM533
Week 4 GM533• Determining the sample size for a Confidence  Interval µ – σ Unknown
Week 4 GM533• In Mintab• Calc >> Probability Distributions >> t   (Choose Inverse Cumulative Probability)                 ...
Week 4 GM533• Input into equation                        n = (s*t/E)^2                        n = (25*2.093/5)^2          ...
Week 4 GM533• Determining a Large Sample Confidence  Interval for a Population Proportion p
Week 4 GM533• In Minitab• Stat >> Basic Statistics >> 1 Proportion
Week 4 GM533
Week 4 GM533• Determining the Sample Size for a Confidence  Interval for p
Week 4 GM533• First use table, then p = 0.5 when you don’t know  (they told us to), then use equation   Confidence        ...
Week 4 GM533• I will post these in my statcave atwww.facebook.com/statcave
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Gm533 applied managerial statistics week 4

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Week 4 Lecture for GM533

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Gm533 applied managerial statistics week 4

  1. 1. GM533 Applied Managerial Statistics Week 4 B. Heardhttp://www.facebook.com/statcave
  2. 2. Week 4 GM533• These are considered practice problems, thus I’m going to walk you through them.• Do these on your own and verify your answers.
  3. 3. Week 4 GM533• Finding a z-based confidence interval for a Population Mean Sigma Known
  4. 4. Week 4 GM533• In Minitab• Stat >> Basic Statistics >> 1 sample z
  5. 5. Week 4 GM533
  6. 6. Week 4 GM533• Finding a t Based Confidence Interval for a Population Mean Sigma Unknown
  7. 7. Week 4 GM533• In Minitab• Stat >> Basic Statistics >> 1 sample t
  8. 8. Week 4 GM533
  9. 9. Week 4 GM533• Determining the sample size for a Confidence Interval µ – σ Unknown
  10. 10. Week 4 GM533• In Mintab• Calc >> Probability Distributions >> t (Choose Inverse Cumulative Probability) Degrees of freedom is sample size – 1 or 20 – 1 = 19 Input constant is the Confidence + (1-confidence)/2) Or 95% + (1-95%)/2 = 97.5% or 0.975
  11. 11. Week 4 GM533• Input into equation n = (s*t/E)^2 n = (25*2.093/5)^2 n = 109.5 n = 110 (Always round sample sizes up!)
  12. 12. Week 4 GM533• Determining a Large Sample Confidence Interval for a Population Proportion p
  13. 13. Week 4 GM533• In Minitab• Stat >> Basic Statistics >> 1 Proportion
  14. 14. Week 4 GM533
  15. 15. Week 4 GM533• Determining the Sample Size for a Confidence Interval for p
  16. 16. Week 4 GM533• First use table, then p = 0.5 when you don’t know (they told us to), then use equation Confidence z n ≥ p(1-p)(z/E)^2 90% 1.645 n ≥ 0.5(1-0.5)(1.96/0.03)^2 95% 1.96 98% 2.33 99% 2.58 n ≥ 1067.11 Or 1068 (always round sample size UP) Actually always round up!
  17. 17. Week 4 GM533• I will post these in my statcave atwww.facebook.com/statcave

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