Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

To compute location measures and confidence interval for the given data.

The Stop N Go convenience chain recently selected a random sample of 10 customers. 

The store monitored the number of times each customer made a buy at the store over a two-month period.  The following data were collected:

10 19 17 19 12 20 20 15 16 13

Store executives are considering a promotion in which they reward frequent purchasers with a small gift.  They have decided that they will only give gifts to those shoppers whose number of visits in the past two-month period is above the mean plus 1 standard deviation.  Find out the minimum number of visits required to receive a gift.

MEAN = 161/10 = 16.1

576_location measures and confidence interval.jpg

The minimum number of visits necessary to receive a gift is 19.6 rounded up = 20.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M920847

Have any Question? 


Related Questions in Statistics and Probability

Suppose that a certain college class contains 49 students

Suppose that a certain college class contains 49 students. Of these, 24 are seniors, 26 are English majors, and 9 are neither. A student is selected at random from the class. (a) What is the  probability  that the studen ...

If x and y are statistically independent random variables

If X and Y are statistically independent random variables both with probability density function f(t)=e^(-t) I[0, +infinity](t) , where I is the indicator function of t. Find the probability density of the variable Z=Squ ...

Consider repair costs for car a and car b the mean repair

Consider repair costs for Car A and Car B. The mean repair cost for each is $500 per year. Which statistics about repair costs may play into your decision to purchase one of these cars? Which car would you choose? Explai ...

An individual wanted to determine the relation that might

An individual wanted to determine the relation that might exist between speed and miles per gallon of an automobile. Let X be the average speed of a car on the highway measured in miles per hour and let Y represent the m ...

Binomial stock option modelingsuppose you have the

Binomial Stock Option Modeling Suppose you have the opportunity to buy the following contract, a stock call option, on March 1. The contract allows you to buy 100 shares of XYZ stock at the end of either March, April, or ...

Measures of central tendency summative taskon a separate

Measures of Central Tendency Summative Task On a separate paper hand out the solution of the two parts of the investigation: Part One - Use the given data set to solve the following problems: 50, 55, 60, 60,70, 80 A. Fin ...

1 a study was conducted at a local college to analyze the

1. A study was conducted at a local college to analyze the average GPA of students graduated from Arizona State in 2012. 100 students graduated from Arizona in 2012 were randomly selected,and the average GPA for the grou ...

1 how might you find information about measures that have

1. How might you find information about measures that have been developed by ofllerresearchers? 2. What are diary mefllodologies, and why are flley used? 3. Discuss ways in which interviewers can increase flle reliabilit ...

Please show the work step by step to make it

Please show the work step by step to make it understandable. A random sample of 16 students showed that the variance in the number of hours they spend studying for a final exam was 25 hours 2 Part a. Construct a 95% conf ...

1 your eccentric aunt has left you 50000 in alcan shares

1) Your eccentric aunt has left you $50,000 in Alcan shares plus $100,000 cash. Unfortunately, her will requires that the Alcan stock not be sold for one year and that $60,000 cash must entirely be invested in T-bills wi ...

  • 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