Questions:
Average cost of running for a congressional seat
1. To determine the average cost of running for a congressional seat, a random sample of 50 politicians are chosen and their records are examined. The cost figures of the sample show a mean of $125,000 with a standard deviation of $32,000. Find the 90% confidence interval estimate for the average cost of running for office.
2. The American Medical Association wishes to determine the percentage of obstetricians who are considering leaving the profession because of rapidly increasing number of lawsuits against obstetricians. How large a sample should be taken to find the answer to within ±3% at the 95% confidence level?
3. A bag of M&M contains 18 red, 12 blue, 8 green, and 7 brown candies. What is the probability of randomly selecting a red or brown M&M?