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Your company is looking to create the next uber - for dishwashers! People come in your home to wash your dishes. However, you need to know if potential customers are comfortable with strangers in their home. You know, from sampling several times various markets, that averaged customer feedback score (out of 5) was 2.1, with a std dev of .8. The SLC market, though was 3.5. Is there potential in SLC? (you asked 20 people). What % of the time would you expect to see an average for a sample this big or bigger?

Your company is looking to create the next uber - for dishwashers! People come in your home to wash your dishes. However, you need to know if potential customers are comfortable with strangers in their home. You know, from sampling several times various markets, that averaged customer feedback score (out of 5) was 2.1, with a std dev of .8. The SLC market, though was 3.5. Is there potential in SLC? (you asked 20 people). What % of the time would you expect to see an average for a sample this big or bigger?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Your company is looking to create the next uber - for dishwashers! People come in your home to wash your dishes. However, you need to know if potential customers are comfortable with strangers in their home. You know, from sampling several times various markets, that averaged customer feedback score (out of 5) was 2.1, with a std dev of .8. The SLC market, though was 3.5. Is there potential in SLC? (you asked 20 people). What % of the time would you expect to see an average for a sample this big or bigger? 2.9% of the time 92.8% of the time 79.1 % of the time O Almost 0% of the time
Transcribed Image Text:Your company is looking to create the next uber - for dishwashers! People come in your home to wash your dishes. However, you need to know if potential customers are comfortable with strangers in their home. You know, from sampling several times various markets, that averaged customer feedback score (out of 5) was 2.1, with a std dev of .8. The SLC market, though was 3.5. Is there potential in SLC? (you asked 20 people). What % of the time would you expect to see an average for a sample this big or bigger? 2.9% of the time 92.8% of the time 79.1 % of the time O Almost 0% of the time
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