A company that produces stereo equipment for home listening is interested in the average age of the equipment in the homes of so-called baby boomers. A random sample of 60 baby boomer households was surveyed. The average age of their stereo equipment was 8.9 years, with a standard deviation of 5.5 years. The data appear to be normally distributed. Do the data contradict the company's idea that most baby boomer households have stereo equipment that is at least 10 years old? Use α = 4%.
Answer to relevant QuestionsA carpet cleaning company is doing some research to determine if its rates are lower than those of its competitors. A researcher posed as a householder to get prices for cleaning a bedroom carpet. The average of 15 such ...The same poll referred to above said that 34% of home owners are borrowing to renovate. At the 2% significance level, does the survey support the claim that more than a third of homeowners borrow to renovate? A financial services company conducted a survey of a random sample of its customers. One of the items on the survey was as follows: "The staff at my local branch can provide me with good advice on my financial affairs." ...The survey of drugstore customers also collected data on incomes. At the 4% level of significance, can Lynda Parks conclude that the average income of her drugstore customers is more than $45,000? An online retailer believes that Canadian Internet users spend an average of $725 shopping online annually. A survey of 2,711 Canadian Internet users reports average spending of $641, with a standard deviation of $234. You ...
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