Manager claims average sales for her shop is $1800 a day during winter months. 10 winter days selected at random, and the mean of the sales is $1830. The standard deviation of the population is $200. Can one reject the claim at a significance level of .05?
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Manager claims average sales for her shop is $1800 a day during winter months. 10 winter days selected
at random, and the mean of the sales is $1830. The standard deviation of the population is $200. Can one
reject the claim at a significance level of .05?
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- Suppose the null hypothesis is not rejected. State the conclusion based on the results of the test. Three years ago, the mean price of a single-family home was $243,712. A real estate broker believes that the mean price has increased since then. Which of the following is the correct conclusion? A. There is not sufficient evidence to conclude that the mean price of a single-family home has not changed. B. There is not sufficient evidence to conclude that the mean price of a single-family home has increased. C. There is sufficient evidence to conclude that the mean price of a single-family home has not changed. D. There is sufficient evidence to conclude that the mean price of a single-family home has increased.Corinne is planning a beach vacation in July and is analyzing the daily average temperatures for her potential destination.Assume a beach is found with temperatures that are normally distributed. The median is 79º and standard deviation is 4º. Make a (boxplot or distribution) curve that approximately represents the daily average temperatures. Specify the range where 95% of the data fallSamantha is the proud owner of the restaurant Barbieville. The only product Barbieville sells is Sam's Burrito, which is priced at $10 each. The number of Sam's Burritos sold on a day, denoted N, follows a normal distribution with mean 400 and standard deviation 50. It is known that the total daily cost, denoted C, follows a normal distribution with mean $1,000 and standard deviation $300. The correlation between C and N is 0.8. Sam's Microeconomics lecturer advised her that she could calculate her profits (P) by subtracting the total cost (C) from total daily revenue (price x quantity): 1. Samantha's Profit function is a new random variable given by: [Select] 2. Samantha's expected profit is given by: [Select] 3. Covariance between N and C is given by: [Select] 4. The standard deviation of profit is given by: [Select]
- In a large sample of customer accounts, a utility company determined that the average number of days between when a bill was sent out and when the payment was made is 19 with a standard deviation of 18 days. Assume the data to be approximately bell-shaped. Approximately 95% of all customer accounts have the average number of days between two values A and B. What is the value of B? Write only a number as your answer.A mechanic sells a brand of automobile tire that has a life expectancy that is normally distributed, with a mean life of 29,000 miles and a standard deviation of 2100 miles. He wants to give a guarantee for free replacement of tires that don't wear well. How should he word his guarantee if he is willing to replace approximately 10% of the tires? Click to view page 1 of the table. Click to view page 2 of the table. Tires that wear out by miles will be replaced free of charge. (Round to the nearest mile as needed.)Janet is planning to rent a booth at a festival for a day to sell clothes that she has made. She sells jackets for $204 and skirts for $165. Her past experiences suggests that sales of jackets will have a mean of 7.6 with a standard deviation of 1.9, and sales of skirts will have a mean of 11.3 with a standard deviation of 2.7. The cost of renting the booth for the day is $232. What are the mean and standard deviation of her net income? [Hint: you should first define random variables and use them to express her net income] O A. u= $3182.9, o = $3414.9 O B. µ= $3414.9, o = $590.51 O C. u= $3182.9, o = $590.51 Q D. p= $3182.9, o = $44.04 O E. p= $3414.9, o = $44.04
- You are a newsvendor selling the San Pedro Times every morning. Before you get to work, you go to the printer and buy the day’s paper for $0.30 a copy. You sell a copy of the San Pedro Times for $1.10. Daily demand is distributed normally with mean = 265 and standard deviation = 53. At the end of each morning, any leftover copies are worthless and they go to a recycle bin.a. How many copies of the San Pedro Times should you buy each morning? (Use Excel's NORM.S.INV() function to find the z value. Round your z value to 2 decimal places and final answer to the nearest whole number.)b. Based on a, what is the probability that you will run out of stock? (Round your answer to the nearest whole number.)A student scores 74 on a geography test and 264 on a mathematics test. The geography test has a mean of 80 and a standard deviation of 5. The mathematics test has a mean of 300 and a standard deviation of 24. If the data for both tests are normally distributed, on which test did the student score better relative to the other students in each class? OA. The student scored better on the mathematics test. OB. The student scored better on the geography test. OC. The student scored the same on both tests.Suppose that Jett achieves a score of 1250 on the SAT, and his sister Kate scores 29 on the ACT. The SAT scores are normally distributed with a mean of 1100 and standard deviation of 250. The ACT scores are normally distributed with a mean of about 20 and standard deviation of 5. Who did better, relative to their peers?
- Mr. Dela Cruz works for a New York theatrical agency whose employees had an average income last year of $28,000 with a standard deviation of $3,000. How much did Mr. dela Cruz earn last year if his z score is -0.8?O $25,600O -$30,400O $11,400O $45,600O $30,400Solar energy is considered by many to be the energy of the future. A recent survey was taken to compare the cost of solar energy to the cost of gas or electric energy. Results of the survey revealed that the distribution of the amount of the monthly utility bill of a three-bedroom house using gas or electric energy had a mean of $117 and a standard deviation of $13. If the distribution can be considered normal: Approximately what percentage of homes will have a monthly utility bill less than $78? Note: Do NOT include the "%" sign Do NOT round any decimals, if applicableIt is known that incomes from the USA follow a normal distribution with a mean of $55,000 and a standard deviation of $12,000. A researcher took a sample of 100 people in the USA and obtained a sample mean of $67,000 with a standard deviation of $18,000. What are the characteristics of the sampling distribution. A. Mean = $55,000 and Standard Deviation of the Mean = $1200 B. Mean = $55,000 and Standard Deviation of the Mean = $12000 C. Mean = $67,000 and Standard Deviation of the Mean = $569.21 D. Mean = $67,000 and Standard Deviation of the Mean = $1800