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Question
the recent increase in tuition fees claimed that it would provide classes with 50 desktops per room. a random sample of 18 classrooms showed that the average was 48. the standard deviation was 32 at a .05 level of significance. can we conclude that the provided 50 desktops was indeed the average per room?
Hi Dominic,
This is a very similar question, so understanding the previous answer will show you that we cannot come to this conclusion. Furthermore, this is even simpler because we can never conclude what the exact true mean is from a sample. We can show a range of possibilities, but by omitting some members of population by sampling, we will never have exact precision.
Thanks again!
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Jason Eisele
Expertise
I am qualified to answer probability questions through the undergraduate level. I can also assist with the first actuarial exam in probability and explain the roles of probability in applications such as economics and game theory. I hope to address any topics that I am currently unfamiliar with during my studies as an actuary.
Experience
I am beginning employment as an Actuarial Assistant with a major auto insurer. On the side, I have experience applying probability to poker at a highly competitive level.
Organizations
Mensa
Education/Credentials
University of Rochester Class of 2008:
Bachelor of Arts, Mathematics and Economics
Certificate in Actuarial Studies
Certificate in Mathematical Modeling in Political Science and Economics
Certificate in Management Studies with track in Accounting and Finance
Completed Actuarial Exam SOA P / CAS 1
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