Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Question: A large discount store gives its sales personnel bonuses based on their average sale amount. Since each salesperson makes hundreds of sales each month, the store management decided to base average sale amount for each salesperson on a random sample of the person's sales. Since records of sales are kept in books, the use of systematic sampling is convenient. Suppose a salesperson has made 855 sales over the month, and management wants to choose a sample of 30 sales for estimation of the average amount of all sales. Suggest a way of doing this so that no problems would result due to the fact that 855 is not an integer multiple of 30. Give the first element you choose to select, and explain how the rest of the sample is obtained.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92519127
  • Price:- $15

Priced at Now at $15, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

If a coin is tossed 5times and then a standard six-sided

If a coin is tossed 5times, and then a standard six-sided die is rolled 2 times, and finally a group of two cards are drawn from a standard deck of 52 cards without replacement, how many different outcomes are possible?

Use the information below to answer the questions that

Use the information below to answer the questions that follow : While the Mars candy company no longer reports the percentages of each color M&M that are produced, they had previously reported the following: 13% brown  1 ...

What is the appropriate statistical analysis to use t-test

What is the appropriate statistical analysis to use: t-test for two independent samples, t-test for dependent samples, ANOVA, or chi-square test of independence? Please identify and explain why it is appropriate. (a) A s ...

In a sample of 12 kids their mean time on the internet on

In a sample of 12 kids, their mean time on the internet on the phone was 3.9 hours with a standard deviation of 0.7 hours. Which distribution would be most appropriate to use?

You have just leased a car that has monthly payments of 365

You have just leased a car that has monthly payments of $365 for the next 4 years with the first payment due today. If the APR is 6.84 percent compounded monthly, what is the value of the payments today?

What would be the net annual cost of the following checking

What would be the net annual cost of the following checking account? Interest earnings of 3 percent with a $550 minimum balance; average monthly balance, $800; monthly service charge of $15 for falling below the minimum ...

Abbb-rated corporate bond has a yield to maturity of 128

A? BBB-rated corporate bond has a yield to maturity of 12.8 %. A U.S. treasury security has a yield to maturity of 11.4 %. These yields are quoted as APRs with semiannual compounding. Both bonds pay? semi-annual coupons ...

A normal distribution has a mean equal tonbsp45 what is the

A normal distribution has a mean equal to 45. What is the standard deviation of this normal distribution if 2.5% of the proportion under the curve lies to the right of  x  = 52.84?  (Round your answer to two decimal plac ...

Suppose metal shafts produced have a standard deviation of

Suppose metal shafts produced have a standard deviation of 2.8 and a mean diameter of 210 inches. If 84 shafts are sampled at random, what is the probability that the mean diameter of the sample shafts would be less than ...

A researcher randomly assigned 160 subjects into one of two

A researcher randomly assigned 160 subjects into one of two groups: Atkins diet or Weight Watchers. The response variable was weight change in pounds after 6 weeks. The t-test results showed a p-value=.049. What can be c ...

  • 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