Develop a chain of fastfood restaurants

Reference no: EM13787316

Question 1: A group of investors wants to develop a chain of fastfood restaurants. In determining potential costs for each facility, they must consider, among other expenses, the average monthly electric bill. They decide to sample some fastfood restaurants currently operating to estimate the monthly cost of electricity. They want to be 99% confident of their results and want the error of the interval estimate to be no more than $100. They estimate that such bills range from $600 to $2,500. How large of a sample should they take?

Question 2: Where do CFOs get their money news? According to Robert Half International, 47% get their money news from newspapers, 15% get it from communication/colleagues, 12% get it from television, 11% from the internet, 9% from magazines,5% from radio, and 1% do no tknow. Suppose a researcher wants to test these results.She randomly samples 67 CFOs and finds that 40 of them get their money news from newspapers. Does the test show enough evidence to reject the findings of Robert Half International? Use a = .05. Make sure you clearly state both the null and the alternative hypotheses in full sentences. Following your calculations, clearly state the conclusion in the same manner (do not simply say "accept/reject null") and explain how you arrived at this conclusion (based on which metrics)

Reference no: EM13787316

Questions Cloud

Research options for improving the current use of tcp/ip : Research options for improving the current use of TCP/IP and recommend new software and equipment that's available. Describe how use of equipment, software, and multiplexing could aid in improving use for communications which would reduce network con..

Write an essay proposing a solution of smoking : Write an essay proposing a solution in it. the problem is smoking and i need four full pages and at least 2 sources, I don't want the best essay i need it simple and easy.

What constitutional rights are at issue : Analyze this case from both the traveler's and the police officer's perspective. What constitutional rights are at issue? Have any of them been violated

Benefits and drawbacks of a sole proprietorship : What are the benefits and drawbacks of a sole proprietorship? What is the purpose of the cash flow statement and what information does it provide entrepreneurs and investors?

Develop a chain of fastfood restaurants : A group of investors wants to develop a chain of fastfood restaurants. In determining potential costs for each facility, they must consider, among other expenses, the average monthly electric bill.

Adolescence is a challenging time issues : What strategies can parents of adolescent children use to prevent or end troublesome behavior and maintain a positive family environment?

Write a report to management : Write a report to management describing the makeup and roles of your proposed team, what attributes you will be looking for in team members, and what you hope to accomplish with your new team. Be sure to offer solid reasoning in all areas of your ..

About selecting a sampling strategy : Discuss the advantages and disadvantages of at least 2 different sampling methods. Describe how researchers go about selecting a sampling strategy. What role does the research question play in choosing the sample?

Swimkids margin of safety : Swimkids is a swimsuit manufacturer. They sell swim suits at a selling price is $30 per unit. Swimkids variable costs are $18 per unit. Fixed costs are $81,900. Swimkids expects sales of $275,200 next year. What is Swimkids's margin of safety (in ..

User Account

All Pages