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# Gm533 week 4 lecture march 2012

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GM 533 Week 4 Lecture

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### Gm533 week 4 lecture march 2012

1. 1. GM533 Applied ManagerialStatistics Week 4B. Heard(Do not copy, post or distributewithout my permission. Students arefree to download a copy for personaluse)
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 Minitab• 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 the Statcave atwww.facebook.com/statcave