Answered: A retail store was considering changing…

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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Question

A retail store was considering changing its inventory to appeal to a younger audience. The store randomly surveyed its shoppers to determine the average age of people that visit the store. The ages of the first 20 people surveyed are given below. The manager wants to know if the mean age of its shoppers is significantly higher than 21. Assume that the ages of all shoppers at this store are normally distributed.

Use Excel to test whether the true mean age of the store's shoppers is over 21. Identify the p-value, rounded to three decimal places.

Shopper Age

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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