Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

The director of admissions at a large university advises parents of incoming students about the cost of textbooks during a typical semester. He selected a sample of 100 students and recorded their textbook expenses for the semester. He then calculated a sample mean cost of $575.60 and a sample standard deviation of $45.20.

a. Using the 0.10 level of significance, is there evidence that the population mean is above $565?

b. What is your answer in (a) if the standard deviation is $75 and the 0.05 level of significance is used?

c. What is your answer in (a) if the sample mean is $569.60 and the sample standard deviation is $45.20?

You are the manager of a fast-food franchise. Last month the mean waiting time at the counter, as measured from the time a customer places an order until the time the customer receives the order, was 3.7 minutes. The franchise helped you to institute a new process intended to reduce waiting time. You select a random sample of 64 orders. The sample mean waiting time is 3.57 minutes with a sample standard deviation of 0.8 minute. At the 0.05 level of significance, is there evidence that the population mean waiting time is now less than 3.7 minutes?

 

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92844476
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

Assume that a firm could borrow 100 billion dollars the

Assume that a firm could borrow 100 billion dollars. The most straightforward value from the leveraged recapitalization that people would estimate is the present value of interest tax shield. Assume the cost of debt is 0 ...

What are the ways that it can help comply with legal

What are the ways that IT can help comply with legal requirements and social responsibilities surrounding the sales of alcohol?

Why has libor played such a central role in international

Why has LIBOR played such a central role in international business and financial contracts? Why has this been questioned in recent debates over its value reported?

Describe the general concept of economic analysis is this

Describe the general concept of economic analysis. Is this type of analysis necessary, and can it really help the individual investor make a decision about stock? Explain

Stock valuation gruber corp pays a constant 9 dividend on

Stock Valuation Gruber Corp. pays a constant $9 dividend on its stock. The company will maintain this dividend for the next 12 years and will then cease paying dividends forever. If the required return on this stock is 1 ...

A random sample ofnbsp86nbspeighth grade students scores on

A random sample of 86 eighth grade? students' scores on a national mathematics assessment test has a mean score of 292. This test result prompts a state school administrator to declare that the mean score for the? state' ...

What is the difference between a linear quadratic and cubic

What is the difference between a linear, quadratic, and cubic regression analysis? Please provide a reference.

Shekhar plans to invest 1820 in a mutual fund at the end of

Shekhar plans to invest $1,820 in a mutual fund at the end of each of the next six years. If his opportunity cost rate is 8 percent compounded annually, how much will his investment be worth after the last annuity paymen ...

The table below shows the results of a survey that asked

The table below shows the results of a survey that asked 2873 people whether they are involved in any type of charity work. A person is selected random from the sample. Frequently Occasionally Not at All Total Male 225 4 ...

Lisa anderson expects to need 80000 for a down payment on a

Lisa Anderson expects to need $80,000 for a down payment on a house in six years. How much would she have to invest today in an account paying 7.25 percent in order to have $80,000 in six years? (Round answer to 2 decima ...

  • 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