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ii. Suppose the confidence interval obtained in part 'a' is too wide. Explain how the width of this interval can be reduced. Discuss all possible alternatives. Which alternative is the best?

ii. Suppose the confidence interval obtained in part 'a' is too wide. Explain how the width of this interval can be reduced. Discuss all possible alternatives. Which alternative is the best?

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.2: Expected Value And Variance Of Continuous Random Variables
Problem 10E
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ii. Suppose the confidence interval obtained in part 'a' is too wide. Explain how the width of this interval can be reduced. Discuss all possible alternatives. Which alternative is the best?
Transcribed Image Text:ii. Suppose the confidence interval obtained in part 'a' is too wide. Explain how the width of this interval can be reduced. Discuss all possible alternatives. Which alternative is the best?
Health authorities around the world have finally been able to reduce the average number of cases that a single case gives rise to by numerous protective measures including vaccination, mask wearing and physical distancing. Therefore, by "flattening the curve" in this way, ICUS will be less likely to run out of capacity. Source: Daley (2020) The Conversation. Number of cases Source: CDC Possible spread of COVID-19 with and without protective measures Without protective measures μ-2.5 days _0=5 With protective measures u=7 days Time since first case x = 5.2 Healthcare system capacity -0=25 x=8.8 BUSINESS INSIDER a. i. Assuming that both curves are normally distributed, statistically account for the differences in shape. ii. Explain the significances, for the distribution "without protective measures," of increasing the standard deviation to 20 and increasing the population mean to 4 to flatten the COVID-19 curve b. Explain why will flattening the curve cause the pandemic to last longer? c. Standardize the normal distribution "with protective measures" and find the probability falling within the area: P(5.2 ≤ x ≤ 8.8). Show all steps. d. Assume that the mean amount of loss income of residents in the T&T due to Covid-19nis $1575 per month, obtained from a random sample of 120 residents. The population standard deviation of such loss income is $215. i. Explain and illustrate the 97% confidence interval for the mean amount of loss income per month by households in the US.
Transcribed Image Text:Health authorities around the world have finally been able to reduce the average number of cases that a single case gives rise to by numerous protective measures including vaccination, mask wearing and physical distancing. Therefore, by "flattening the curve" in this way, ICUS will be less likely to run out of capacity. Source: Daley (2020) The Conversation. Number of cases Source: CDC Possible spread of COVID-19 with and without protective measures Without protective measures μ-2.5 days _0=5 With protective measures u=7 days Time since first case x = 5.2 Healthcare system capacity -0=25 x=8.8 BUSINESS INSIDER a. i. Assuming that both curves are normally distributed, statistically account for the differences in shape. ii. Explain the significances, for the distribution "without protective measures," of increasing the standard deviation to 20 and increasing the population mean to 4 to flatten the COVID-19 curve b. Explain why will flattening the curve cause the pandemic to last longer? c. Standardize the normal distribution "with protective measures" and find the probability falling within the area: P(5.2 ≤ x ≤ 8.8). Show all steps. d. Assume that the mean amount of loss income of residents in the T&T due to Covid-19nis $1575 per month, obtained from a random sample of 120 residents. The population standard deviation of such loss income is $215. i. Explain and illustrate the 97% confidence interval for the mean amount of loss income per month by households in the US.
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