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- Executives of a supermarket chain are interested in the amount of time that customers spend in the stores during shopping trips. The executives hire a statistical consultant and ask her to determine the mean shopping time, µ, of customers at the supermarkets. The consultant will collect a random sample of shopping times at the supermarkets and use the mean of these shopping times to estimate u. Assuming that the standard deviation of the population of shopping times at the supermarkets is 29 minutes, what is the minimum sample size she must collect in order for her to be 90% confident that her estimate is within 6 minutes of u? Carry your intermediate computations to at least three decimal places. Write your answer as a whole number (and make sure that it is the minimum whole number that satisfies the requirements). (If necessary, consult a list of formulas.)An engineer has built a simulation model of a small factory, run an experiment with the model using 15 replicates, and determined at 90% confidence that the mean time an entity spends in the system is in the range of 24 min to 28 min. The data are normally distributed. Based on this information, what can the engineer say about entity time-in-system?A -The population mean time-in-system must be in the interval 24 min to 28 min. B- The largest mean time-in-system for any one of the 15 replicates was 28 min. C- If the engineer were to run a 16th replicate, the mean time-in-system would be in the interval 24 min to 28 min. D. The probability that the population mean time-in-system is greater than 28 min can be estimated as 5%.During the COVID-19 pandemic, drive-up grocery delivery became very popular with customers. Two US retailers that provide this service are Target and Walmart. Many shoppers prefer to order from only one store to save time, but they wonder if they are spending more money shopping at one store rather than both. The data file Snacks has the prices for 20 identical snack items sold at both retailers in Mankato, Minnesota. Assume that µd is the mean difference (Target - Walmart) in the price of the items. Using α = .05, determine whether or not the price of these grocery items differed significantly. Perform your analysis using MegaStat. Download: Snacks a. What type of analysis should you use to analyze this data? Explain the reason for your choice. b. State the hypotheses for this analysis. c. Calculate the degrees of freedom for this analysis. d. State the Decision Rule for this analysis. e. Perform the analysis and identify the mean price of the Target items, the mean price of the…
- An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflation, changed between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist's claim at the 0.05 level of significance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2. Average Residential Retail Prices of Electricity ($/kWh) 2018 2019 12.64 13.86 14.22 12.45 14.45 12.85 17.58 15.69 13.42 11.64 15.07 14.72 15.12 14.53 11.20 10.51 18.15 16.70 Copy Data Step 2 of 3: Compute the value of the test statistic. Round your answer to three decimal places.Four different types of insecticides are used on strawberry plants. The number of strawberries on each randomly selected plant is given below. Find the critical value F-value to test the hypothesis that the type of insecticide makes no difference in the mean number of strawberries per plant. Use α=0.01. Insecticide 1 Insecticide 2 Insecticide 3 Insecticide 4 6 8 6 3 5 5 3 5 6 5 3 3 7 5 4 4 7 5 2 5 6 6 3 4An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflation, changed between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist’s claim at the 0.10 level of significance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2. Average Residential Retail Prices of Electricity ($/kWh) 2018 2019 19.99 18.65 15.30 17.29 14.40 16.17 17.31 18.68 12.85 13.53 12.41 13.11 14.74 13.13 19.15 19.36 11.84 13.69 Step 3 of 3 : Draw a conclusion and interpret the decision. 1. We fail to reject the null hypothesis and conclude that there is insufficent evidence at a…
- Let X1, X2,..., Xn be a random sample of size n > 3 from a normal distribution with unknown mean μ and known variance equal to 2. Show that is an unbiased estimator of μ and compute its variance. pThe heights of men in a certain city are normally distributed with a mean of 275 cm and a variance of 25cm. Compute the minimum height for the top sixteen percent of the men in the city.An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflation, changed between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist’s claim at the 0.05 level of significance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2. Average Residential Retail Prices of Electricity ($/kWh) 2018 2019 19.32 18.19 15.00 13.69 11.20 12.72 14.48 14.51 14.15 12.23 19.17 17.21 13.13 11.29 17.62 15.89 19.06 17.71 Step 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below Step 2 of 3: Compute the value of the test statistic. Round your…
