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Answer: Estimate the following by rounding each number to hundreds; then divide to get

Contemporary Mathematics | 6th Edition | ISBN: 9780538481267 | Authors: Robert Brechner ISBN: 9780538481267 378

Solution for problem 22 Chapter SECTION III

Contemporary Mathematics | 6th Edition

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Contemporary Mathematics | 6th Edition | ISBN: 9780538481267 | Authors: Robert Brechner

Contemporary Mathematics | 6th Edition

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Problem 22

Estimate the following by rounding each number to hundreds; then divide to get the exact answer. 1,499 4 580

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ST 512: Week One Notes MaLyn Lawhorn August 16, 2017 Estimates and Estimators ▯ Estimating occurs when we need to approximate an unknown parameter ▯ ▯ to estimate, we use data that comes in the form of random variable Y , Y , Y , ▯▯▯, Y . 1 2 3 N ▯ An estimator is the algorithm, function, or equation used to approximate ▯. ▯ An estimate is the numerical output of the estimator. Example 1 Consider the following data set of the ages that a group of individuals got married: 23, 27, 29, 26, 31, 23, 24, 24, 29, 23, 27, 30, 30, 29, 25 Suppose we wanted to find the true mean ▯ of when an individual gets married. We could use the above data set to find an estim▯ of the age when an individual gets married. We do this using the estimator 1 Y = (Y 1 Y 2 Y +3▯▯▯ + Y )N N Plugging in the actual values of the data set, we get the estimate 1 ▯ = (23 + 27 + 29 + 26 + 31 + 23 + 24 + 24 + 29 + 23 + 27 + 30 + 30 + 29 + 25) = 26:6667: 15 Note that anytime we use an estimator to find an estimate, we are assuming ”sensible sampling,” meaning that we are assuming each random variable is identically distributed and mutually inde- pendent. 1 Example 2 Let ▯ be a point estimate for some unknown parameter ▯ and let ▯ = 5. Is it reasonable to believe

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Chapter SECTION III, Problem 22 is Solved
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Textbook: Contemporary Mathematics
Edition: 6
Author: Robert Brechner
ISBN: 9780538481267

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Answer: Estimate the following by rounding each number to hundreds; then divide to get