Mean amount people spend at a popular coffee shop

Assignment Help Basic Statistics
Reference no: EM13105704

A research firm conducted a survey to determine the mean amount people spend at a popular coffee shop during a week. They found the amounts spent per week followed a normal distribution with a population standard deviation of $4. A sample of 49 customers revealed that the mean is $25. What is the 95 percent confidence interval estimate of µ?

Reference no: EM13105704

Questions Cloud

How social and cultural differences reflected in arts : Explain the relationships between arts and the cultures of Italian Renaissance and the Northern European Renaissance? How the social and cultural differences reflected in arts? Use at least two specific artistic examples to show your points.
Creating mps record for the hand drills : The forecast requirements for an electric hand drill for the next 6 weeks are 15,40,10,20,50,and 30 units. The marketing department has booked orders totaling 20, 25, 10 and 20 units for delivery in the first.
Confidence interval estimation for regression coefficients : What is the value of the coefficient of Blue Collar in your equation? What is the lower limit of the 95% CI for this coefficient? What is the upper limit of the 95% CI for this coefficient?
Explain internet research recognise an external shock : Based on your own Internet research recognise an external shock (within the last decade) to the U.S. economy and define the impact on Aggregate Demand and/or Aggregate Supply
Mean amount people spend at a popular coffee shop : A research firm conducted a survey to determine the mean amount people spend at a popular coffee shop during a week. They found the amounts spent per week followed a normal distribution with a population standard deviation of $4.
Company''s model of organizational change implementation : Rose is a new recruit at Truien Consultancy. At her last job she learned expertise in that company's model of organizational change implementation
Discover the financial statements : Discover the financial statements for a publicly traded company that offers segmented financial information. Organise an overview approximately 300 words of what is revealed about the company through its segmented data
Determining sample size for estimating population mean : An estimate is needed of the mean acreage of farms in Manitoba, Canada. The estimate should be correct to within 100 acres with probability 0.95. A preliminary study suggests that 500 acres is a reasonable guess for the standard deviation of farm ..
Determine the standard error of the mean : A random sample of 100 computers showed a mean of 115 gigabytes used with a standard deviation of 20 gigabytes. What is the standard error of the mean?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Value of the results of the game

Would you play this game if you wanted to make money? What do we expert the value of the results of the game to be?

  Standard deviation for the united state population

For adults 60 years or older, they found a mean daily intake of 721 mg with a standard deviation of 454 mg. Using these values for the mean μ and standard deviation σ for the U.S. population:

  Determine the components of the force-close fitting hole

In the design of the robot to insert the small cylindrical part into a close-fitting circular hole, the robot arm must exert a 90-n force p on the part parallel to the axis of the hole as shown. Determine the components of the force which the part..

  Methods of data collection

Which of the 4 methods of data collection is involved when a person counts the number of cars passing designated location on the Los Angeles freeway system?

  Sampling distribution of sample means with population

Compare the mean of the sampling distribution of sample means with that of the population.

  Expected value of frequency

You're a risk manager of ABC company and you are reevaulating your insurance contract. Your insurer has informed you that the expected value of frequency per month for ABC is 2.43.

  Longitudinal and cross sectional business research studies

Explain the differences between longitudinal and cross sectional business research studies. Which two types of probability sampling are best suited for business research and statistical data analysis, and why?

  Question on probability with replacement

3 voters are randomly selected (with replacement) from a group of 1,500 people. The group is known to be 20% republican. What is the probability that all of them are republicans?

  What is the probability that your mean flight

Assume that flight times from SAN to ATL are exponentially distributed with a mean of 4.5 hours and a standard deviation of 0.2 hours. Assume that you must fly from SAN to ATL weekly for the lucrative consulting engagement for one year (52 flight..

  Home sales and interest rates

The probability that home sales will increase in the next 6 months is 0.25. The probability that the interest rates on loans will go up in the same period is estimated to be 0.74.

  Confidence interval for the mean monthly consumption

Use these statistics to construct a 94% confidence interval for the mean monthly consumption for the population of all Ontario households.

  Evidence of a difference in the variability

At the .05 level of significance, is there evidence of a difference in variability in the shipping time between the two outlets? What decision should the carpet manufacturer make?

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