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As a statistical analyst for a retail store, you need to construct a 98% confidence interval to estimate the true mean hourly arrival rate of customers. After making 37 hourly observations, you determine that the sample mean arrival rate is 80 customers per hour. The population standard deviation is known to be 5 customers per hour. a. Compute the margin of error for the 98% confidence interval Round your critical value to three decimal places. Do not round any other intermediate calculations. Round your final answer to three decimal places. Margin of error = customers per hour b. Using your answer to Part a, compute the 98% confidence interval for the true mean hourly arrival rate. Round your final answers to three decimal places. Lower confidence limit= customers per hour Upper confidence limit= customers per hour. c. Suppose the store manager has claimed that the true mean arrival is really 84 customers per hour. At the 98% confidence level, is the manager's claim contradicte O No O Yes

As a statistical analyst for a retail store, you need to construct a 98% confidence interval to estimate the true mean hourly arrival rate of customers. After making 37 hourly observations, you determine that the sample mean arrival rate is 80 customers per hour. The population standard deviation is known to be 5 customers per hour. a. Compute the margin of error for the 98% confidence interval Round your critical value to three decimal places. Do not round any other intermediate calculations. Round your final answer to three decimal places. Margin of error = customers per hour b. Using your answer to Part a, compute the 98% confidence interval for the true mean hourly arrival rate. Round your final answers to three decimal places. Lower confidence limit= customers per hour Upper confidence limit= customers per hour. c. Suppose the store manager has claimed that the true mean arrival is really 84 customers per hour. At the 98% confidence level, is the manager's claim contradicte O No O Yes

MATLAB: An Introduction with Applications
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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As a statistical analyst for a retail store, you need to construct a 98% confidence interval to estimate the true mean hourly arrival rate of customers. After making 37 hourly observations, you determine that the sample mean arrival rate is 80 customers per hour. The population standard deviation is known to be 5 customers per hour. a. Compute the margin of error for the 98% confidence interval Round your critical value to three decimal places. Do not round any other intermediate calculations. Round your final answer to three decimal places. Margin of error = customers per hour b. Using your answer to Part a, compute the 98% confidence interval for the true mean hourly arrival rate. Round your final answers to three decimal places. Lower confidence limit= customers per hour Upper confidence limit=[ customers per hour. c. Suppose the store manager has claimed that the true mean arrival is really 84 customers per hour. At the 98% confidence level, is the manager's claim contradicted? O No O Yes
Transcribed Image Text:As a statistical analyst for a retail store, you need to construct a 98% confidence interval to estimate the true mean hourly arrival rate of customers. After making 37 hourly observations, you determine that the sample mean arrival rate is 80 customers per hour. The population standard deviation is known to be 5 customers per hour. a. Compute the margin of error for the 98% confidence interval Round your critical value to three decimal places. Do not round any other intermediate calculations. Round your final answer to three decimal places. Margin of error = customers per hour b. Using your answer to Part a, compute the 98% confidence interval for the true mean hourly arrival rate. Round your final answers to three decimal places. Lower confidence limit= customers per hour Upper confidence limit=[ customers per hour. c. Suppose the store manager has claimed that the true mean arrival is really 84 customers per hour. At the 98% confidence level, is the manager's claim contradicted? O No O Yes
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