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A market research firm supplies manufacturers with estimates of the retail sales of their products from samples of retail stores. Marketing managers are prone to look at the estimate and ignore sampling error. An SRS of 75 stores this month shows mean sales of 52 units of a small appliance, with standard deviation 13 units. During the same month last year, an SRS of 53 stores gave mean sales of 49 units, with standard deviation 11 units. An increase from 49 to 52 is rise of 6%. The marketing manager is happy, because sales are up 6%. 1) Use the two-sample t procedure to give a 95% confidence interval for the difference between this year and last year in the mean number of units sold at all retail stores. 2) Explain in language that the manager can understand why we cannot be confident that sales rose by 6%, and that in fact sales may even have dropped.
Determine the level of measurement for these items related to the newspaper business? The following data gives the weekly amounts spent on groceries for sample of households.
Use Gauss-Jordan method to determine solution to following system of equations?
WHich sampling method from the choices listed above would be best? Describe how you would carry out your chosen sampling method of a student from part (a)
A company has developed the new battery, but the average lifetime is unknown. In order to estimate the average, a sample of 150 batteries is tested and an average lifetime of this sample is found to be 250 hours.
For which of the following situations is it appropriate to use a scatter diagram or scatter plot?
Illustrate the maximum number of reservations that it could accept for a flight with a capacity of 160, if it needs the probability of accommodating all reservation holders to be at least 95%.
Use either Linear Programming module or Transportation module of Cd to minimize the shipping costs involved in move.
Using a critical value, test hypothesis at the 1% level of significance.
If 900 users visited the site, would the probability that more than 250 of them click on an ad be higher or lower than the answer found in part
the population mean of monthly wages of all college graduates under age of 30. Interpret your answer in the context of the problem.
A random sample of 15 first-year CMAs in Denver produces a mean salary of $32,279, with a standard deviation of $1,797. Test the hypothesis that the mean for all Denver first-year CMAs is not equal to $31,129. Use the .05 level of significance.
If the research question were defined as will buyers purchase more of a product in a blue colored or silver package? the most appropriate type of research would be
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