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Probability of Sample Mean within +$5 and ±$15 of μ -SS μ +$5 +$15 What is the probability for $5, +$15, and their difference respectively? O a. 0.3830, 0.6915, difference of 0.3085 O b. 0.0668, 0.3830, difference of 0.3162 O c. 0.3830, 0.8664, difference of 0.4834 d. 0.3085, 0.6915, difference of 0.3830

Probability of Sample Mean within +$5 and ±$15 of μ -SS μ +$5 +$15 What is the probability for $5, +$15, and their difference respectively? O a. 0.3830, 0.6915, difference of 0.3085 O b. 0.0668, 0.3830, difference of 0.3162 O c. 0.3830, 0.8664, difference of 0.4834 d. 0.3085, 0.6915, difference of 0.3830

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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Probability of Sample Mean within +$5 and ±$15 of μ - -$5 μ +$5 +$15 What is the probability for $5, +$15, and their difference respectively? O a. 0.3830, 0.6915, difference of 0.3085 O b. 0.0668, 0.3830, difference of 0.3162 O c. 0.3830, 0.8664, difference of 0.4834 O d. 0.3085, 0.6915, difference of 0.3830
Transcribed Image Text:Probability of Sample Mean within +$5 and ±$15 of μ - -$5 μ +$5 +$15 What is the probability for $5, +$15, and their difference respectively? O a. 0.3830, 0.6915, difference of 0.3085 O b. 0.0668, 0.3830, difference of 0.3162 O c. 0.3830, 0.8664, difference of 0.4834 O d. 0.3085, 0.6915, difference of 0.3830
Case Problem: Foot Locker As a sales analyst for the shoe retailer Foot Locker, one of your responsibilities is measuring store productivity and then reporting your conclusion back to management. Foot Locker uses sales per square fom as a measure of store productivity. While preparing your report for the second quarter results (Q2), you are able to determine that annual sales for last year ran at a rate of $406 per square foot. Therefore, $406 per square foot will be your sales estimate for the population of all Foot Locker stores during Q2. For your Q2 Sales Report, you decide to take a random sample of 64 stores. Using annual data from last year, you are able to determine that the standard deviation for sales per square foot for all 3,400 stores was $80. Therefore $50 per square foot will be your population standard deviation when compiling your Q2 report. Management has asked for the probability that your sample mean based on 64 stores is 1) within $15 and 2) within 55 of the population mean and they would 3) like the difference between these probab with explanation and a corresponding graphic to illustrate the difference, The graphic will, in general, resemble the image below. It is up to you to calculate the probabilities which span $5 and A$15. Probability of Sample Mean within 55 and 1S15 of u O 12.
Transcribed Image Text:Case Problem: Foot Locker As a sales analyst for the shoe retailer Foot Locker, one of your responsibilities is measuring store productivity and then reporting your conclusion back to management. Foot Locker uses sales per square fom as a measure of store productivity. While preparing your report for the second quarter results (Q2), you are able to determine that annual sales for last year ran at a rate of $406 per square foot. Therefore, $406 per square foot will be your sales estimate for the population of all Foot Locker stores during Q2. For your Q2 Sales Report, you decide to take a random sample of 64 stores. Using annual data from last year, you are able to determine that the standard deviation for sales per square foot for all 3,400 stores was $80. Therefore $50 per square foot will be your population standard deviation when compiling your Q2 report. Management has asked for the probability that your sample mean based on 64 stores is 1) within $15 and 2) within 55 of the population mean and they would 3) like the difference between these probab with explanation and a corresponding graphic to illustrate the difference, The graphic will, in general, resemble the image below. It is up to you to calculate the probabilities which span $5 and A$15. Probability of Sample Mean within 55 and 1S15 of u O 12.
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