Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

A Cell Phone company sells cellular phones and airtime in a State. At a recent meeting, the marketing manager states that the average age of the customers is 40 years. Before actually completing the advertising plan, it was decided to select a random sample of customers. Among the questions asked in the survey of 50 customers was the customer's ages. The mean and the standard deviation of the data based on the survey are 38 years and 7 years.

a. Formulate a hypothesis to test the marketing manager's claim.

b. Does the sample support manager's claim. Test at 0.05 level of significance.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92705702
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

The assessment of the allocation of profits and losses is

The assessment of the allocation of profits and losses is one of the three key areas in which process?

Suppose that you sample 59 high school baseball pitchers in

Suppose that you sample 59 high school baseball pitchers in one county and find that they have a mean fastball pitching speed of 80.00 miles per hour (mph) with a standard deviation of 4.98 mph. Find a 95% confidence int ...

A major car manufacturer wants to test a new engine to

A major car manufacturer wants to test a new engine to determine if it meets new air pollution standards. The mean emission μ of all engines of this type must be approximately 18 parts per million of carbon. If it is hig ...

You are leasing a car for 48 months you put down 2000 now

You are leasing a car for 48 months. You put down $2000 now and agree to $500 monthly payments. The residual value is $15,000. The financing rate is 8% (monthly compounded). How much is the car worth?

Letnbspnmnbspv denote the normal random variable with

Let  N ( m ,  v ) denote the normal random variable with mean  m  and  variance   v . (a) If  X  is a  Standard Normal  variable, what is the distribution of the random variable 4 X  - 1? (b) If  X  ~  N (3,1) and  Y  ~  ...

Describe in detail each of four risk factors of holding a

Describe in detail each of four risk factors of holding a domestic bond. Your summary should convince the reader that you fully understand each risk factor.

Assume the random variable x is normally distributed with

Assume the random variable x is normally distributed with mean mu = 86 and standard deviation sigma =4. Find the indicated probability. P(x

Consider the following random sample ofnbspdata8 6 -6 0 -9

Consider the following random sample of data: 8, 6, -6, 0, -9, 4, -1, 7, 6, 84 a) What is the standard deviation of the sample data? Round your response to at least 3 decimal places. b) If the outlier is removed, what is ...

If sailsboro just paid a dividend of 2 per share amp

If Sailsboro just paid a dividend of $2 per share & dividends are expected to grow at 8%, 6%, and 5% for the next three years respectively. After that the dividends are expected to grow at a constant rate of 3% indefinit ...

The average height of young adult males has a normal

The average height of young adult males has a normal distribution with standard deviation of 2.5 inches. You want to estimate the mean height of students at your college or university to within 0.6 inch with 93% confiden ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As