STA-201-GS008 Principles of Statistics written assignment 10

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Tesha Goodson 0519843 609 - 638 - 7514 teshagaddis@aol.com STA - 201 - GS008 JUNE 2015 Principles of Statistics MENTOR: Manisha Rohatgi 1 STA - 201 - GS008 Principles of Statistics written assignment 10 WRITTEN ASSIGNMENT 10 Variable Mean Std. dev. 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 Bank Robberies: A Statistical Analysis a. Identify and interpret a point estimate for the mean of each of the five aforementioned variables. A point estimate of a population parameter is a single value of a statistic. For example, the sample mean x is a point estimate of the population mean μ . Point estimates of respective variables is given below. Variable Mean Amount stolen (pounds sterling) 20,330.5 Number of bank staff present 5.417 Number of customers present 2.000 Number of bank raiders 1.637 Travel time, in minutes from bank To nearest police station 4.557 b. Find and interpret a 95% confidence interval for the mean amount stolen. 95% confidence interval is given by: mean ± z(a/2)*(sigma/sqrt(n)) Confidence inetval z(a/2) 1.959964 L ower =20330.5 - - 84549.5
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