why why hot? 52. Foot Locker Store Productivity. Foot Locker uses sales per square foot as a measure of store productivity. Sales are currently running at an annual rate of $406 per square foot. You have been asked by management to conduct a study of a sample of 64 Foot Locker stores. Assume the standard deviation in annual sales per square foot for the population of all 3400 Foot Locker stores is $80. a. Show the sampling distribution of x, the sample mean annual sales per square foot for a sample of 64 Foot Locker stores. b. What is the probability that the sample mean will be within $15 of the population mean? c. Suppose you find a sample mean of $380. What is the probability of finding a sample mean of $380 or less? Would you consider such a sample to be an unusually low-performing group of stores? lonorting from Buffalo Niagara

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

How do I set up #52? 

**Foot Locker Store Productivity:**

Foot Locker uses sales per square foot as a measure of store productivity. Sales are currently running at an annual rate of $406 per square foot. You are tasked with conducting a study of a sample of 64 Foot Locker stores. Assume the standard deviation in annual sales per square foot for the population of all 3400 Foot Locker stores is $80.

- **a. Sampling Distribution:**  
  Show the sampling distribution of \( \bar{x} \), the sample mean annual sales per square foot for a sample of 64 Foot Locker stores.

- **b. Probability Within $15 of the Mean:**  
  What is the probability that the sample mean will be within $15 of the population mean?

- **c. Unusually Low Mean:**  
  Suppose you find a sample mean of $380. What is the probability of finding a sample mean of $380 or less? Would you consider such a sample to be an unusually low-performing group of stores?


**Airline Fares:**

The mean airfare for flights departing from Buffalo Niagara International Airport during the first three months of 2017 was $320.51. Assume the standard deviation for this population of fares is known to be $80. Suppose a sample of 60 flights departing from Buffalo Niagara International Airport... [text cuts off].
Transcribed Image Text:**Foot Locker Store Productivity:** Foot Locker uses sales per square foot as a measure of store productivity. Sales are currently running at an annual rate of $406 per square foot. You are tasked with conducting a study of a sample of 64 Foot Locker stores. Assume the standard deviation in annual sales per square foot for the population of all 3400 Foot Locker stores is $80. - **a. Sampling Distribution:** Show the sampling distribution of \( \bar{x} \), the sample mean annual sales per square foot for a sample of 64 Foot Locker stores. - **b. Probability Within $15 of the Mean:** What is the probability that the sample mean will be within $15 of the population mean? - **c. Unusually Low Mean:** Suppose you find a sample mean of $380. What is the probability of finding a sample mean of $380 or less? Would you consider such a sample to be an unusually low-performing group of stores? **Airline Fares:** The mean airfare for flights departing from Buffalo Niagara International Airport during the first three months of 2017 was $320.51. Assume the standard deviation for this population of fares is known to be $80. Suppose a sample of 60 flights departing from Buffalo Niagara International Airport... [text cuts off].
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman