The mean of the sample of 65 customer satisfaction ratings in Table 1.7 is 42.95. If we

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The mean of the sample of 65 customer satisfaction ratings in Table 1.7 is 42.95. If we let m denote the mean of all possible customer satisfaction ratings for the XYZ Box video game system, and assume that the population standard deviation equals 2.64:

a. Calculate 95 percent and 99 percent confidence intervals for μ.

b. Using the 95 percent confidence interval, can we be 95 percent confident that m is at least 42 (recall that a very satisfied customer gives a rating of at least 42)? Explain.

c. Using the 99 percent confidence interval, can we be 99 percent confident that m is at least 42? Explain.

d. Based on your answers to parts b and c, how convinced are you that the mean satisfaction rating is at least 42?

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Essentials Of Business Statistics

ISBN: 9780078020537

5th Edition

Authors: Bruce Bowerman, Richard Connell, Emily Murphree, Burdeane Or

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