Assuming that the amount spent follows a normal distribution
Course:- Basic Statistics
Reference No.:- EM1319194

Assignment Help
Assignment Help >> Basic Statistics

The 95% confidence Interval for one population mean.

1. A study at a college in the west coast reveals that, historically, 45% of their students are minority students.  If random samples of size 75 are selected, 80% of the samples will have less than ______% of minority students.

2. A major department store chain is interested in estimating the average amount its credit card customers spent on their first visit to the chain's new store in the mall. Fifteen credit card accounts were randomly sampled and analyzed with the following results= $50.50 and s2 = 400. Construct a 95% confidence interval for the average amount its credit card customers spent on their first visit to the chain's new store in the mall assuming that the amount spent follows a normal distribution.

1.       $50.50 ± $9.09

2.       $50.50 ± $10.12

3.       $50.50 ± $11.00

4.       $50.50 ± $11.08

Ask Question & Get Answers from Experts
Browse some more (Basic Statistics) Materials
Use the correct formula to find the probability that, out of 10 customers, exactly 5 are familiar with the product. Show your calculations or explain how you found the proba
Years to Complete a Graduate Program: The average number of years a person takes to complete a graduate degree program is 3. The standard deviation is 4 months. Assume the v
Does there appear to be a linear relationship between the screen size and the price?b. Which variable is the "dependent" variable?
Share 1 real-world binomial distribution situation and 1 real-world Poisson distribution situation. Be sure to explain why each example is defined as binomial or Poisson.
The concessions manager at the Clemson vs. USC football game must decide whether to have the vendors sell sun visors or umbrellas. There is a 30% chance of rain
Use any method to decide whether to rejects or fail to reject the null hypothesis. Then interpret the decision in the context of the original claim.
Define decision variables clearly. Formulate this as a linear programming problem and solve it with a detailed description of your output. Please include all output informat
Computing the probability values using normal distribution - Find the probability that a regular rat (without the supplement) would solve the maze with a score less than or e