Movie Ticket Prices According to Deadline.com, the average price for a movie ticket in 2018 was $ 8.97 . A random sample of movie prices in the San Francisco Bay Area 25 movie ticket prices had a sample mean of $ 12.27 with a standard deviation of $ 3.36 . Do we have evidence that the price of a movie ticket in the San Francisco Bay Area is different from the national average? Use a significance level of 0.05 . Construct a 95 % confidence interval for the price of a movie ticket in the San Francisco Bay Area. How does your confidence interval support your conclusion in part a?
Movie Ticket Prices According to Deadline.com, the average price for a movie ticket in 2018 was $ 8.97 . A random sample of movie prices in the San Francisco Bay Area 25 movie ticket prices had a sample mean of $ 12.27 with a standard deviation of $ 3.36 . Do we have evidence that the price of a movie ticket in the San Francisco Bay Area is different from the national average? Use a significance level of 0.05 . Construct a 95 % confidence interval for the price of a movie ticket in the San Francisco Bay Area. How does your confidence interval support your conclusion in part a?
Solution Summary: The author identifies whether the mean price for a movie ticket in San Francisco is different from the national average.
Movie Ticket Prices According to Deadline.com, the average price for a movie ticket in 2018 was
$
8.97
. A random sample of movie prices in the San Francisco Bay Area 25 movie ticket prices had a sample mean of
$
12.27
with a standard deviation of
$
3.36
.
Do we have evidence that the price of a movie ticket in the San Francisco Bay Area is different from the national average? Use a significance level of
0.05
.
Construct a
95
%
confidence interval for the price of a movie ticket in the San Francisco Bay Area. How does your confidence interval support your conclusion in part a?
Definition Definition Number of subjects or observations included in a study. A large sample size typically provides more reliable results and better representation of the population. As sample size and width of confidence interval are inversely related, if the sample size is increased, the width of the confidence interval decreases.
A marketing agency wants to determine whether different advertising platforms generate significantly different levels of customer engagement. The agency measures the average number of daily clicks on ads for three platforms: Social Media, Search Engines, and Email Campaigns. The agency collects data on daily clicks for each platform over a 10-day period and wants to test whether there is a statistically significant difference in the mean number of daily clicks among these platforms. Conduct ANOVA test.
You can provide your answer by inserting a text box and the answer must include: also please provide a step by on getting the answers in excel
Null hypothesis,
Alternative hypothesis,
Show answer (output table/summary table), and
Conclusion based on the P value.
A company found that the daily sales revenue of its flagship product follows a normal distribution with a mean of $4500 and a standard deviation of $450. The company defines a "high-sales day" that is, any day with sales exceeding $4800. please provide a step by step on how to get the answers
Q: What percentage of days can the company expect to have "high-sales days" or sales greater than $4800?
Q: What is the sales revenue threshold for the bottom 10% of days? (please note that 10% refers to the probability/area under bell curve towards the lower tail of bell curve)
Provide answers in the yellow cells
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