Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

A store manager claims that the mean amount of time customers spend waiting in line is no more than 4.9 minutes. You believe it exceeds 4.9 minutes and wish to test this claim at the 0.05 level of significance. The mean waiting time for your random sample of 23 customers is 4.3 minutes, with a sample standard deviation of 0.62 minutes. Waiting time is normally distributed. Calculate the value of the test statistic for your random sample rounded to two decimal places?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M9401914

Have any Question?


Related Questions in Statistics and Probability

A random sample of 87 eighth grade students scores on a

A random sample of 87 eighth grade? students' scores on a national mathematics assessment test has a mean score of 278. This test result prompts a state school administrator to declare that the mean score for the? state' ...

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 monthly sales demand for a new product is uncertain but

The monthly sales demand for a new product is uncertain, but it is considered to be adequately described by a normal random variable with mean 50,000 units and variance 100,000,000. (a) A factory to manufacture the new p ...

Lets do some r suppose you have the following situation you

Let's do some R.... Suppose you have the following situation: You have a large jar of beans, 43% black, 57% white. You take a sample of 14 beans. a) Use R to figure out the probability for every single possible outcome. ...

The mean height of women in a country ages 20-29

The mean height of women in a country? (ages 20-?29) is 63.5 inches. A random sample of 65 women in this age group is selected. What is the probability that the mean height for the sample is greater than 64 ?inches? Assu ...

List three ways organizations provide context for their

List three ways organizations provide context for their financial ratios, in other words what is the basis of on which they compare their results?

What is liquidity and why is liquidity important to the

What is liquidity and why is liquidity important to the success of a business? Give the Reference

Suppose that you have 5000 and you are contemplating the

Suppose that you have $5000 and you are contemplating the purchase of two investments, IBM and Walgreen's. One year from now, IBM can be sold at $ X per dollar invested, and Walgreen's can be sold for $ Y per dollar inve ...

Large purple dress inc has some bond outstanding with a 625

Large purple dress INC. HAS SOME BOND OUTSTANDING WITH A 6.25% COUPON AND FOUR YEARS REMAINING UNTIL maturity. Since these bond were issued, interest rates has increased, these bonds are now trading at a 7.375% YTM. Reme ...

Determine the sample size n needed to construct a 99

Determine the sample size n needed to construct a 99?% confidence interval to estimate the population mean when σ=24 and the margin of error equals 9.

  • 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