Based on long term experience the standard deviation can be, Ask an Expert

Statistics

Latasha is a waitress at Seventh Heaven Hamburgers. She wants to estimate the average amount each group at a table leaves for a tip. A random sample of 42 groups gave a mean of $7.30. Based on long term experience, the standard deviation can be taken to be $2.92. Find a 90% confidence interval for the average amount left by all groups.

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M9394251

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

Before-tax cost of debt and after-tax cost of debt david

Before-tax cost of debt and after-tax cost of debt David Abbot is buying a new house, and he is taking out a 30-year mortgage. David will borrow $200,000 from a bank, and to repay the loan he will make 360 monthly paymen ...

An urn contains 5 red and 10 blue balls balls are drawn

An urn contains 5 red and 10 blue balls. Balls are drawn sequentially from urn without replacement. Let X be the number of draws necessary in order to obtain exactly 4 red balls. Find probability mass function of X

1 a certain compact disc player randomly plays each of 10

1. A certain compact disc player randomly plays each of 10 songs on a CD. Once a song is played, it is not repeated until all the songs on the CD have been played. In how many different ways can the CD player play the 10 ...

A recent study found that 64 of workers between the ages of

A recent study found that 64?% of workers between the ages of? 20-29 cash out their retirement accounts when they lose their jobs or move to a new employer. Complete parts a through e below based on a random sample of 14 ...

Your firm is contemplating the purchase of a new 585000

Your firm is contemplating the purchase of a new $585,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. It will be worth $95,000 at the end of that time. ...

The december cbot treasury bond futures contract is quoted

The December CBOT Treasury bond futures contract is quoted at 92-19. If annual interest rates go up by 1.50 percentage points, what is the gain or loss on the futures contract? (Assume a $1,000 par value, and round to th ...

Discuss the core business objectives and the primary focus

Discuss the core business objectives and the primary focus of the financial business model.

List three ways organizations provide context for their

List three ways organizations provide context for their financial ratios, in other words what is the basis of on which they compare their results?

What considerations do you need to take when considering

What considerations do you need to take when considering "time value of money"? Why is the following statement true? "A dollar today is worth more than a dollar tomorrow."

1 you consider buying both stock a and stock b to make a

1.) You consider buying both Stock A and Stock B to make a portfolio to reduce some unsystematic risk. Both stocks will be weighted equally in the portfolio. Stock A has an expected return of 11% and a standard deviation ...

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

Recent Questions

Ask Statistics and Probability Expert