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

In a pulse rate research a simple random sample of 120 men

In a pulse rate research, a simple random sample of 120 men results in a mean of 80 beats per minute, and a standard deviation of 11 beats per minute. Based on the sample results, the researcher concludes that the pulse ...

A clinical trial is being planned to investigate the effect

A clinical trial is being planned to investigate the effect of a new experimental drug designed to reduce total serum cholesterol. Investigators will enroll participants with total cholesterol levels between 200-240, the ...

Research objectives to explore correlations between reward

Research Objectives To explore correlations between reward systems and team work attributes in the Saudi Arabian bank sector To explore relationships between reward systems and team work effectiveness in the Saudi Arabia ...

Suppose we randomly sample 400 nucleotides from the human

Suppose we randomly sample 400 nucleotides from the human genome. (Consider only a single strand.) Does the occurrence of adenine, thiamine, cytosine and guanine (A, C, T and G) in this sample suggest that nucleotides in ...

Topicnbspstate party structurethreadnbspfirst review the

Topic:  State Party Structure Thread:  First, review the Reading & Study presentation "Political Structure at the State Level" as an example about the structure of the Republican Party in Virginia Select 1 of the major p ...

This exercise generalizes exercise 925 let n y fi fii s p

This exercise generalizes Exercise 9.25. Let (N, Y, F I , F II , s, P) be an Aumann model of incomplete information with beliefs in which N = {I, II} and let A ⊆ Y be an event. Consider the following process: Player I in ...

Explain how the picture below helps us understand

Explain how the picture below helps us understand Christianity. Who were the thinkers that used these philosophers to understand their faith?

Dan is at the bottom of donnas preference list and donna is

Dan is at the bottom of Donna's preference list, and Donna is at the bottom of Dan's preference list. Is it possible that there is a stable matching that matches Dan to Donna? Justify your answer.

Discuss the beginnings of the cold war from the position

Discuss the beginnings of the Cold War. From the position of a Soviet ruler, how might you have viewed the situation following WWII? How did the Truman administration attempt to handle it? (Include as many of the followi ...

Linear regression and the fitting-lineexercise 1 the

Linear Regression and the "fitting-line" Exercise 1: The following table shows how many weeks six persons have worked at an automobile inspection station and the number of cars each one inspected between 3 p.m. and 5 p.m ...

  • 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

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

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen