A Fast-Food Franchiser is considering building a restaurant at a certain location. Based on financial analyses, a site is acceptable only if the number of pedestrians passing the location averages more than 100 per hour. The number of pedestrians observed for each of 40 hours was recorded. Assuming that the population standard deviation is known to be 16; can we conclude at the 1% significance level that the site is acceptable?
Answer to relevant QuestionsMany Alpine ski centers base their projections of revenues and profits on the assumption that the average Alpine skier skis four times per year. To investigate the validity of this assumption, a random sample of 63 skiers is ...Refer to Exercise 11.46. A financial analyst has determined that a 2-minute reduction in the average break would increase productivity. As a result the company would hate to lose this opportunity.Calculate the probability of ...a. The sample mean and standard deviation from a sample of 81 observations are x̄ = 63 and s = 8. Estimate e with 95% confidence.b. Repeat part (a) with n = 64.c. Repeat part (a) with n = 36.d. Describe what happens to the ...a. Estimate the population mean with 90% confidence given the following: x̄ = 175, s = 30 and n = 5.b. Repeat part (a) assuming that you know that the population standard deviation is σ = 30.c. Explain why the interval ...A federal agency responsible for enforcing laws governing weights and measures routinely inspects packages to determine whether the weight of the contents is at least as great as that advertised on the package. A random ...
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