Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. Based on a newspaper article, the mean of the x distribution is about $24 and the estimated standard deviation is about $9. (a) Consider a random sample of n = 40 customers, each of whom has 10 minutes of unplanned shopping time in a supermarket. From the central limit theorem, what can you say about the probability distribution of x, the average amount spent by these customers due to impulse buying? What are the mean and standard deviation of the x distribution? O The sampling distribution of x is approximately normal with mean u, = 24 and standard error o, = $0.23. O The sampling distribution of x is approximately normal with mean u, = 24 and standard error o, = $9. O The sampling distribution of x is approximately normal with mean u, = 24 and standard error o, = $1.42. O The sampling distribution of x is not normal. Is it necessary to make any assumption about the x distribution? Explain your answer. O It is not necessary to make any assumption about the x distribution because u is large. O It is necessary to assume that x has a large distribution. O It is necessary to assume that x has an approximately normal distribution. O It is not necessary to make any assumption about the x distribution because n is large. (b) What is the probability that x is between $21 and $27? (Round your answer to four decimal places.)
Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. Based on a newspaper article, the mean of the x distribution is about $24 and the estimated standard deviation is about $9. (a) Consider a random sample of n = 40 customers, each of whom has 10 minutes of unplanned shopping time in a supermarket. From the central limit theorem, what can you say about the probability distribution of x, the average amount spent by these customers due to impulse buying? What are the mean and standard deviation of the x distribution? O The sampling distribution of x is approximately normal with mean u, = 24 and standard error o, = $0.23. O The sampling distribution of x is approximately normal with mean u, = 24 and standard error o, = $9. O The sampling distribution of x is approximately normal with mean u, = 24 and standard error o, = $1.42. O The sampling distribution of x is not normal. Is it necessary to make any assumption about the x distribution? Explain your answer. O It is not necessary to make any assumption about the x distribution because u is large. O It is necessary to assume that x has a large distribution. O It is necessary to assume that x has an approximately normal distribution. O It is not necessary to make any assumption about the x distribution because n is large. (b) What is the probability that x is between $21 and $27? (Round your answer to four decimal places.)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 7PPS
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Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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