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In an effort to estimate the mean annual amount spent per customer for groceries at a particular supermarket, data were collected for a sample of 100 households. The sample showed an average amount of $8,000. (8 marks)
If the population standard deviation is $500,
a. develop an 80% confidence interval estimate of the population mean annual amount spent.
b. develop an 85% confidence interval estimate of the population mean annual amount spent.
c. discuss what happens to the width of the confidence interval as the confidence level is increased. Does this seem reasonable? Explain.
d. If the data were collected for a sample of 50 households rather than 100, develop an 85% confidence interval estimate of the population mean annual amount spent, assuming the population has a normal probability distribution.
Describe what you find then produce an ANOVA for the problem.
The mean annual salary paid to all employees in a company was EURO 30.000. The mean annual salaries paid to male and female employees of the company were EURO 32.000, and 24.000, respectively. Determine the percentage of males and females employed..
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