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The management of a kitchenware company is evaluating the financial viability of one of its stores located in Claremont, Cape Town. One measure they would like to estimate is the mean value of purchases at this store. If the mean value of all purchases (in rand) is likely to be less than R150, the management will consider closing the branch.
The management selected a random sample of 50 invoices of recent sales and recorded each transaction value (in rand).
(a) Construct a histogram using the Histogram option in Data Analysis to check the assumption of normality. Does the data appear to be normally distributed? Comment.
(b) What recommendation would you make to the management about the continued trading of this Claremont store? Base your recommendation on the results of a hypothesis test for a single mean conducted at the 5% significance level. Show the null and alternative hypothesis.
A coin was flipped 60 times and came up heads 38 times. (a) At the .10 level of significance, is the coin biased toward heads? Show your decision rule and calculations. (b) Calculate a p-value and interpret it.
What is the probability that the average will be 140 lbs or longer if the individuals are randomly selected and calculate the z-score for an x of 21.5 from a sample of size 25.
Which of the following statements isn't a property of the normal probability distribution? Please explain briefly why
Determine whether descriptive or inferential statistics have been used in the statement below:
A random sample of students is selected, and each one is asked to try first brand A and then brand B, or vice versa with the order determined at random.
A federal bank examiner is interest in estimating the mean outstanding defaulted loans balance of all defaulted loans over the last three years. Calculate a 90% confidence interval for the mean balance of defaulted loans over the past three years.
customers arrive at a checkout counter following a poisson process with rate 12per hr.a compute the probability of
A design for 2 treatments has p pairs of blocks. Each block has three plots. In each pair one block has two plots with A and one with B, and the other has two plots with B and a single plot with A.
a paticle starts at 00 and moves in one-unit independed steps with equal probabilites of 14 in each of the four
a. If the airbag activates at a deceleration of 12 mph/s or more, Iacocca would get hurt. What is the probability of his being hurt in this demon- stration? b. What is the mean deceleration at airbag activation moment? c. What is the standard devi..
question the police chief in montgomery wants to know if the citys population feels that the police are doing a good
a sample of 200 elements from a population with a known standard deviation is selected. for an interval estimation of m
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