Typical amount spent per customer

Assignment Help Basic Statistics
Reference no: EM131319038

Suppose we would like to determine if the typical amount spent per customer for dinner at a new restaurant in town is more than $20.00. A sample of 49 customers over a three-week period was randomly selected and the average amount spent was $22.60. Assume that the standard deviation s is known to be $5.50. Using a 0.05 level of significance, would we conclude the typical amount spent per customer is more than $20.00?

Reference no: EM131319038

Questions Cloud

Confidence interval estimate of proportion of auto accidents : An insurance company checks police records on 1200 randomly selected auto accidents and notes that teenagers were at the wheel in 180 of them. Construct a 90% confidence interval estimate of the proportion of auto accidents that involve teenage dr..
How would the federal reserve conduct policy : How would the Federal Reserve conduct policy if the economy faced very high unemployment rates? What are some of advantages and disadvantages of monetary policy in comparison to fiscal policy? Explain how a strong economy will impact interest rates i..
Describe the structure of the ecosystem : Describe where this type of ecosystem might be located. Name 1 specific example.Describe the structure of the ecosystem.List at least 3 specific examples of both abiotic components and biotic components for the ecosystem type selected.Describe the fu..
Use of preferred stock issued as mezzanine financing : With regard to the use of preferred stock issued as “mezzanine” financing: ..... and please explain why.
Typical amount spent per customer : Assume that the standard deviation s is known to be $5.50. Using a 0.05 level of significance, would we conclude the typical amount spent per customer is more than $20.00?
Predicted final exam score : Find an equation of the least squares regression line. Based on the equation from part (a), what is the predicted final exam score if the average quiz score is 95?
Describe the steps taken to resolve the conflict : Describe a conflict within an organization or team with which you are familiar. Identify and describe the source(s) and level of the conflict and support with evidence.Describe the steps taken to resolve the conflict or, if it is an ongoing conflic..
Financial leverage-solvency and financial flexibility : What is the normal relationship between financial leverage, solvency and financial flexibility? .... and please explain why
Should you switch on the first opportunity : What is the optimal strategy? Should you switch on the first opportunity? Should you switch on the second opportunity?

Reviews

Write a Review

 

Basic Statistics Questions & Answers

  The time needed to complete a final examination in a

the time needed to complete a final examination in a particular college course is normally distributed with a mean of

  Describe the circumstances under which the shape of the

describe the circumstances under which the shape of the sampling distribution of p-hat is

  Decision regarding the null hypothesis

Suppose a consumer product researcher wanted to find out whether a highlighter lasted less than the manufacturer's claim that their highlighters could write continuously for 14 hours. The researcher tested 40 highlighters and recorded the number o..

  Prove that the probability of exactly n heads

Prove that the probability of exactly n heads in 2n tosses of a fair coin is given by the product of the odd numbers up to 2n - 1 divided by the product of the even numbers up to 2n.

  Question a high volume production process produces on

question a high volume production process produces on average 3.4 defective parts per hour and the number of defects

  What type of error have commited if null hypothesis is false

If you were to accept the null hypothesis, even though the null hypothesis was false, what type of error would you have commited?

  Is there enough evidence to reject the claim

The IRS claims that the mean wait time for callers during tax season is at most 7 minutes. A random sample of 11 callers has a mean wait time of 8.7 minutes and a standard deviation of 2.7 minutes. Is there enough evidence to reject the claim at a..

  Difference in mean times

Commute times: three random samples of time in minutes that commuters are stuck in traffic are shown. At anova =0.05, is there a difference in the mean times among the three cities?

  There are 300 homes in winetree subdivision the subdivision

there are 300 homes in winetree subdivision. the subdivision committee decided to paint a third of the houses magenta

  Probability from z score

The lifetime of a super tough AAA battery is normally distributed wit mean of 28.5 hours and standard deviation of 5.3 hours. For a battery selected at random

  Computing confidence interval for a confidence level

Assuming the sample size of 40 can be considered as large, compute the confidence interval for a confidence level of 90%.

  Given are five observations collected in a regression study

given are five observations collected in a regression study on two variables.x12691320y1718926231. what percentage of

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd