Answered: The Retailers Association believes that…

Name: The Retailers Association believes that the average time spent on each
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Description: The Retailers Association believes that the average time spent on each visit to its member store, by a shopper, is less than 75 minutes. To test this belief, the association commissioned Market Research company to conduct a survey among a random samp

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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The Retailers Association believes that the average time spent on each visit to its member store, by a shopper, is less than 75 minutes. To test this belief, the association commissioned Market Research company to conduct a survey among a random sample of 450 shoppers at one of the members’ stores. Based on the survey, the average time spent was 78 minutes. Assume that the population of shopping time is normally distributed with a standard deviation of 5 minutes. Can the Retailers Association conclude that the shopper spent less than 75 minutes, on average, on each visit to its members’ stores? Conduct a test at the 1% level of significance.

Critical value at 10% level: 1.645

Critical value at 5% level: 1.96

Critical value at 1% level: 2.58

Determine the region of acceptance of the null hypothesis

Calculation the test stat and conclusion

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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