Refer to the Journal of Vacation Marketing (January 2016) study of travelers' familiarity with ecolabels used by

Question:

Refer to the Journal of Vacation Marketing (January 2016) study of travelers' familiarity with ecolabels used by hotels, Exercise 2.64 (p. 80). Recall that adult travelers were shown a list of 6 different ecolabels, and asked, "Suppose the response is measured on a continuous scale from 10 (not familiar at all) to 50 (very familiar)." The mean and standard deviation for the Energy Star ecolabel are 44 and 1.5, respectively. Assume the distribution of the responses is approximately normally distributed.

a. Find the probability that a response to Energy Star exceeds 43. .7054

b. Find the probability that a response to Energy Star falls between 42 and 45. .2929

c. If you observe a response of 35 to an ecolabel, do you think it is likely that the ecolabel was Energy Star? Explain. No

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistics For Business And Economics

ISBN: 9780134506593

13th Edition

Authors: James T. McClave, P. George Benson, Terry Sincich

Question Posted: