8.18 The file Fast Casual contains the amount that a sample of 15customers spent for lunch ($) at a fast casual restaurant:7.42 6.29 5.83 6.50 8.34 9.517.10 6.80 5.904.89 6.50 5.52 7.90 8.30 9.60a. Construct a 95% confidence interval estimate for the populationmean amount spent for lunch ($) at a fast casual restaurant.b. Interpret the interval constructed in (a).c. What assumption must you make about the population distribu-tion in order to construct the confidence interval estimate in (a)?d. Do you think that the assumption needed in order to constructthe confidence interval estimate in (a) is valid? Explain.

Critical Value: In test of hypotheses, Critical Values are the cut-off values that provide with the…

Answered: 8.18 The file Fast Casual contains the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Suppose that a manager is interested in estimating the average amount of money customers spend in her store. After sampling 36 transactions at random, she found that the average amount spent was $32.15. She then computed a 90% confidence interval to be between $29.18 and $35.12. Which statement gives a valid interpretation of the interval? O There is a 90% chance that the mean amount spent by all customers is between $29.18 and $35.12. O There is a 90% chance that a randomly selected customer will spend between $29.18 and $35.12. O The store manager is 90% confident that the average amount spent by the 36 sampled customers is between $ 29.18 and $35.12. The store manager is 90% confident that the average amount spent by all customers is between $29.18 and $35.12.
2) The following data represent the number of passengers per flight in a random sample of 20 flights from Vienna, Austria, to Cluj-Napoca, Romania, with a new airline: 96 95 70 74 28 63 64 94 37 83 25 48 80 52 48 52 38 47 79 65 a) Find a 99% confidence interval for the mean number of passengers per flight. b) Find a 95% confidence interval for the population standard deviation.
The file FastFood contains the amount that a sample of 15 customers spent for lunch ($) at a fast-food restaurant: 7.42 6.29 5.83 6.50 8.34 9.51 7.10 6.80 5.904.89 6.50 5.52 7.90 8.30 9.60 a. Construct a 95% confidence interval estimate for the population mean amount spent for lunch ($) at a fast-food restaurant. b. Interpret the interval constructed in (a) c. What assumption must you make about the population distribu-tion in order to construct the confidence interval estimate in (a)?
A local university administers a comprehensive examination to the candidates for B.S. degrees in Business Administration. Five examinations are selected at random and scored. The scores are shown below. Develop a 95% confidence interval estimate for the mean of the population. Assume the population is normally distributed. Grades 80 90 91 62 77 Select one: O a. 65.39 - 94.61 O b. 68.78 - 91.22 О с. O d. 67.52 - 92.48 69.48 - 90.52
A firm employs 189 junior accountants. In a random sample of 50 of these, the mean number of hours overtime billed in a particular week was 9.7, and the sample standard deviation was 6.2 hours.a. Find a 95% confidence interval for the mean number of hours overtime billed per junior accountant in this firm that week.b. Find a 99% confidence interval for the total number of hours overtime billed by junior accountants in the firm during the week of interest.

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