Consider the next 1000 98% Cis for mu that a statistical consultant will obtain for various clients. Suppose the data sets on which the intervals are

CheemnCatelvew

CheemnCatelvew

Answered question

2020-12-27

Consider the next 1000 98% Cis for mu that a statistical consultant will obtain for various clients. Suppose the data sets on which the intervals are based are selected independently of one another. How many of these 1000 intervals do you expect to capture the corresponding value of μ? 
What is the probability that between 970 and 990 of these intervals conta the corresponding value of Y =the number among the 1000 intervals that contain What kind of random variable is Y) (Use the normal approximation to the binomial distribution)

Answer & Explanation

doplovif

doplovif

Skilled2020-12-28Added 71 answers

For various clients 1,000 intervals of population mean are computed at 98% confidence level. 
The data sets are selected independently to compute the confidence intervals. 
Requirements for a binomial experiment: 
The experiment consists of n independent trials. 
There are only 2 possible outcomes for each trial, success and failure. 
The probability of success (S) remains the same for all trials. 
The trials are independent of each other. 
The experiment in the case comprises 1,000 trials, and the likelihood of success is 0.98 for each trial. Further all these 1,000 confidence intervals are independent of each other. 
Thus, the random variable Y = Number of intervals that contain μ among 1,000 intervals be the Binomial random variable. 
Binomial Distribution: 
a chance factor If Y's mass function is as follows, then Y is said to follow a binomial distribution.
p(y)=(ny)pyqny,y=0,1,2,....,n 
Where the mean is μ=np and the variance is σ2=npq. 
Consider a random variable Y, such that: 
Y = Number of intervals that contain μ among 1,000 intervals 
Then, the random variable Y has a binomial distribution, where there are 1,000 trials and the probability of “success” (observing the population mean μ) is 0.98. 
Thus, n=1,000,p=0.98 
Expected number of intervals with population mean μ: 
Here, YB(np,npq). 
The expected number of intervals that contain the population mean μ is obtained as follows: 
E(Y)=n×p 
=1,000×0.98 
=980 
Thus, the expected number of intervals that contain the population mean μ is 980. Normal approximation to binomial distribution: 
If Y has a binomial distribution with np and npq as its parameters, then YB(np,npq). 
Next, for large n,YnpnpqN(0,1). 
That is, Z=Ynpnpq 
Probability P(970Y990): 
To obtain the probability value P(970Y990), it is necessary to utilize the binomial distribution's normal approximation.
P(970Y990)=P(9709804.427Y9804.4279909804.427) 
=P(2.26Z2.26) 
=P(Z2.26)P(Z2.26) 
=0.98800.0119 [Using standart normal table] 
=0.9761 
Therefore the indicated probability is 0.9761.

Do you have a similar question?

Recalculate according to your conditions!

New Questions in College Statistics

Ask your question.
Get an expert answer.

Let our experts help you. Answer in as fast as 15 minutes.

Didn't find what you were looking for?