Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

One sample t test and Confidence Interval for the population mean. 

A Wendy's franchise has been averaging about $5000 worth of business on a typical Saturday with a standard deviation of σ = $500.  The manager is concerned that sales are slipping, after taking into account the average value of sales for four consecutive Saturdays being $4800. 

a. Formulate an appropriate hypothesis test to examine at the 10 percent level of significance whether the manager's worries are justified.

b. What should the level of significance be to arrive at an end?

c. Based on the sample findings, estimate the true mean of Saturday sales with 90 percent probability.

d. If we wanted to shorten the interval of the estimation of the true mean of Saturday sales to a width of $600 in total, what should the size of our sample be to achieve it? 

e. If the true mean for Saturday sales is now $4500, what is the likelihood of accepting the (false) null hypothesis in (a) above (the probability of not sharing the manager's concern because of lack of evidence)?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M921040

Have any Question? 


Related Questions in Statistics and Probability

A person goes to his office everyday he has a single

A person goes to his office everyday. He has a single umbrella. When he is home and the umbrella is home, he can choose to bring it. He will certainly do so if it is raining, but must decide what to do if is not raining, ...

Name two or three competitors that compete most directly

Name two or three competitors that compete most directly for the same resources and customers that you need to perform well as an organization (or other government agencies or non-profits that compete for similar donors ...

Thenbspessay approximately 500 to 600 words in length that

The Essay, approximately 500 to 600 words in length, that you will write in the testing lab is as follows: Do these excerpts from Columbus' log provide us with any useful information about the native societies of these i ...

Among the best companies to work for in the us 33

Among the best companies to work for in the US, 33% experienced double digit job growth, 49% experienced single digit growth, and 18% experienced no growth or decline. A closer examination of the 30 companies that make u ...

Questions1 the following results were observed in a

QUESTIONS: 1. The following results were observed in a prospective study of the drug Viagra (based on data from Pfizer Inc.)  Use the data to answer the following questions:   Viagra Treatment Placebo Headache 117 29 No ...

When conducting a hypothesis test if z calculated is less

When conducting a hypothesis test, if z calculated is less than z critical, you should accept the null hypothesis?

Assume that the number of pieces of junk mail per day that

Assume that the number of pieces of junk mail per day that a person receives in their mail box follows the Poisson distribution and averages 3.5 pieces per day. What is the probability that this person will receive exact ...

What are the key components of consideration that went into

What are the key components of consideration that went into forming the Texas Constitution?

According to an article in newsweek the natural ratio of

According to an article in Newsweek, the natural ratio of girls to boys is 100:105. In China, the birth ratio is 100: 114 (46.7% girls). Suppose you don't believe the reported figures of the percent of girls born in Chin ...

Forty-four percent of consumers with credit cards carry

Forty-four percent of consumers with credit cards carry balances from month to month. five consumers with credit cards are randomly selected. What is the probability that all consumers carry a credit card balance?

  • 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

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro