Waiting time mu of all customers is longer than 3 minutes

Assignment Help Business Economics
Reference no: EM132129547

A random sample of 64 customers is selected to analyze their waiting time at a restaurant. The sample statistics are computed as follows: the sample mean xbar=3.21 minutes and the sample standard deviation s = 0.8 minutes. Test at the 5% significance level the alternate hypothesis that the average waiting time mu of all customers is longer than 3 minutes.

Reference no: EM132129547

Questions Cloud

What you have watched and to generate ideas : Write a response to Chasing Ice that analyzes one or more key details -- quoted dialog, imagery, music, camera angle choices -- that stood out to you personally
Do you find strong enough evidence to reject : Do you find strong enough evidence to reject the null that the 100 cans were drawn from a population where the mean is 10? yes/no
What do each of the symbols represent : What do each of the symbols represent and Is the symbolism directly or indirectly conveyed to the reader - How do each of the symbols affect the tone/theme
Find the the probability that the ice cream : Find the the probability that the ice cream was sold in a cup and was strawberry flavor.
Waiting time mu of all customers is longer than 3 minutes : Test at the 5% significance level the alternate hypothesis that the average waiting time mu of all customers is longer than 3 minutes.
Write a strategic plan : MOD001115 Strategic Management Assignment, Anglia Ruskin University, UK. Choose an organisation with which you are familiar, write a strategic plan
Generate predicted higher sales : Which marketing model should she invest in, based on these findings, to generate predicted higher sales?
What were pallisers original options : What were Palliser's original options? How might these options influence its business opportunities?
Please explain how the answer was reached : Please explain how the answer was reached so I can learn/understand how to apply to this concept.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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