Statistical Techniques in Business and Economics
Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Chapter 11, Problem 45CE
To determine

Check whether the mean of vehicle counts in the US 17 store has more business volume than the SC 707 store.

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The CVS Pharmacy located on US 17 in Murrells Inlet has been one of the busiest pharmaceutical retail stores in South Carolina for many years. To try and capture more business in the area, CVS top management opened another store about 6 miles west on SC 707. After a few months, CVS management decided to compare the business volume at the two stores. One way to measure business volume is to count the number of cars in the store parking lots on random days and times. The results of the survey from the last 3 months of the year are reported below. To explain, the first observation was on October 2 at 20:52 military time (8:52 p.m.). At that time there were four cars in the US 17 lot and nine cars in the SC 707 lot. At the 0.05 significance level, is it reasonable to conclude that, based on vehicle counts, the US 17 store has more business volume than the SC 707 store?         Vehicles Count Date Time US 17 SC 707 Oct 2 20:52   4   9   Oct 11 19:30   5   7   Oct 15 22:08   9…
High in the Rocky Mountains, a biology research team has drained a lake to get rid of all fish. After the lake was refilled, they stocked it with an endangered species of Greenback trout. Of the 2000 Greenback trout put into the lake 700 were tagged for later study. An electroshock method is used on individual fish to get a study sample. However, this method is hard on the fish. The research team wants to know the smallest number of fish that must be electroshocked to be at least 70% sure of getting a sample of two or more tagged trout. Please provide the answer. For more studies similar to this one, see A National Symposium on Catch and Release Fishing, Humboldt State University.   ______fish
An insurance company crashed four cars in succession at 5 miles per hour. The cost of repair for each of the crashes was $421,$465,$412,$218. Compute the range of data

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Statistical Techniques in Business and Economics

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