Calculate ninety five percent onfidence intervals for mean

Reference no: EM13145100

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

A.) Calculate 95 percent and 99 percent confidence intervals for u(mean).

B.) Using the 95 percent confidence interval, can we be 95 percent confident that u(mean) 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 u(mean) 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?

Reference no: EM13145100

Questions Cloud

Explain and show exactly how to get correct information : Explain and show exactly how you are getting the correct information from your data set and how you are computing the probabilty.

What is the minimum number of kilo joules needed : what is the minimum number of Kilo Joules needed to change 40 grams of water 100 C to steam at the same temperature and pressure?

Financial statements for exteral reporting purpose : A company acquires a subsidiary and will prepare consolidated financial statements for exteral reporting purposes. For internal reporting purposes, the company has decided to apply the initial value method. Why might the company have made this dec..

Define what pressure is required to achieve a concentration : Express your answer to three significant figures and include the appropriate units. 0.037 Correct Part B What pressure is required to achieve a concentration of 7.10×10?2 at 20?

Calculate ninety five percent onfidence intervals for mean : Calculate 95 percent and 99 percent confidence intervals for u(mean). Using the 99 percent confidence interval, can we be 99 percent confident that u(mean) is at least 42? Explain.

Disadvantage of purchasing from outside supplier : Based on these data, the per-unit dollar advantage or disadvantage of purchasing from the outside supplier would be:

Concepts of present value-payback method : Define the concepts of present value, payback method, internal rate of return, or net present value and elaborate on your interpretation of their value as assessment tools for an accountant.

What is the value of k : The rate law for a hypothetical reaction is rate=k[A]2 When the concentration is 0.10 moles/liter, the rate is 2.7 * 10-5 moles/liter second. What is the value of k?

What is the hista compatable match : What is the hista compatable match that bone marrow must be before it is accepted by the body in in the instance of a transplant?

User Account

All Pages