A survey of the mean number of cents off that coupons give was conducted by randomly surveying
Question:
A survey of the mean number of cents off that coupons give was conducted by randomly surveying one coupon per page from the coupon sections of a recent San Jose Mercury News. The following data were collected: 20¢; 75¢; 50¢; 65¢;
30¢; 55¢; 40¢; 40¢; 30¢; 55¢; $1.50; 40¢; 65¢; 40¢. Assume the underlying distribution is approximately normal.
a. i. x - = __________ ii. sx = __________ iii. n = __________ iv. n-1 = __________
b. Define the random variables X and X - in words.
c. Which distribution should you use for this problem? Explain your choice.
d. Construct a 95% confidence interval for the population mean worth of coupons.
i. State the confidence interval.
ii. Sketch the graph.
e. If many random samples were taken of size 14, what percent of the confidence intervals constructed should contain the population mean worth of coupons? Explain why.
Step by Step Answer:
Introductory Business Statistics
ISBN: 202318
1st Edition
Authors: Alexander Holmes , Barbara Illowsky , Susan Dean