Question: The marketing director of a large department store wants to
The marketing director of a large department store wants to estimate the average number of customers who enter the store every five minutes. She randomly selects five-minute intervals and counts the number of arrivals at the store. She obtains the figures 58,32,41,47,56,80,45,29,32, and 78.The analyst assumes the number of arrivals is normally distributed. Using these data, the analyst computes a 95% confidence interval to estimate the mean value for all five-minute intervals. What interval values does she get?
Answer to relevant QuestionsSuppose a company from the United States does considerable business in the city of Johannesburg, South Africa and wishes to establish a per diem rate for employee travel to that city. The company researcher is assigned this ...Suppose a random sample of 85 items has been taken from a population and 40 of the items contain the characteristic of interest. Use this information to calculate a 90% confidence interval to estimate the proportion of the ...Suppose a survey of 275 executives is taken in an effort to determine what qualities are most important for an effective CEO to possess? The survey participants are offered several qualities as options, one of which is ...A group of investors wants to develop a chain of fast-food restaurants. In determining potential costs for each facility, they must consider, among other expenses, the average monthly electric bill. They decide to sample ...In planning both market opportunity and production levels, being able to estimate the size of a market can be important. Suppose a diaper manufacturer wants to know how many diapers a one-month-old baby uses during a 24-hour ...
Post your question