Question
In: Statistics and Probability
According to the University of Nevada Center for Logistics Management, 12% of all merchandise sold in...
According to the University of Nevada Center for Logistics Management, 12% of all merchandise sold in the United States gets returned. A Houston department store sampled 110 items sold in January and found that 15 of the items were returned. A. Construct a point estimate of the proportion of items returned for the population of sales transactions at the Houston store. .1364 (to 4 decimals) B. Construct a confidence interval for the proportion of returns at the Houston store. ? , ? (to 4 decimals) c. Is the proportion of returns at the Houston store significantly different from the returns for the nation as a whole? Provide statistical support for your answer. z-value (to 2 decimals) p-value (to 4 decimals).DO NOT REJECT the null. Yes, we DON'T HAVE enough evidence to prove that Houston is different from the national average.
Solutions
orchestra answered 2 years agoRelated Solutions
According to the University of Nevada Center for Logistics Management, 6% of all merchandise sold in...
According to the University of Nevada Center for Logistics
Management, 6% of all merchandise sold in the United States gets
returned. A Houston department store sampled 80 items sold in
January and found that 10 of the items were returned.
a. Construct a point estimate of the proportion
of items returned for the population of sales transactions at the
Houston store.
10/80 = .125
b. Construct a 90% confidence interval for the
proportion of returns at the Houston store.
????,????...
According to the University of Nevada Center for Logistics Management, 6% of all merchandise sold in...
According to the University of Nevada Center for Logistics
Management, 6% of all merchandise sold in the United States gets
returned (BusinessWeek, January 15, 2007). A Houston department
store sampled 80 items sold in January and found that 15 of the
items were returned.
a) Construct a 90% confidence interval for the proportion of
returns at the Houston store.
b) Is the proportion of returns at the Houston store
significantly larger than the returns for the nation as a whole?...
According to a research center, 6% of all merchandise sold in a particular country gets returned....
According to a research center, 6% of all merchandise sold in a
particular country gets returned. A department store in a certain
city sampled 80 items sold in January and found that 12 of the
items were returned.
A. Construct a point estimate of the proportion of items
returned for the population of sales transactions at the store in
the given city.
B. Construct a 95% confidence interval for the proportion of
returns at the store in the given city....
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following...
The management of Mecca Copy, a photocopying center located on
University Avenue, has compiled the following data to use in
preparing its budgeted balance sheet for next year:
Ending Balances
Cash
?
Accounts receivable
$
8,500
Supplies inventory
$
4,700
Equipment
$
36,000
Accumulated depreciation
$
14,600
Accounts payable
$
2,200
Common stock
$
5,000
Retained earnings
?
The beginning balance of retained earnings was $32,000, net
income is budgeted to be $16,300, and dividends are budgeted to be
$2,700....
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following...
The management of Mecca Copy, a photocopying center located on
University Avenue, has compiled the following data to use in
preparing its budgeted balance sheet for next year:
Ending Balances
Cash
?
Accounts
receivable
$
8,100
Supplies
inventory
$
3,200
Equipment
$
34,000
Accumulated
depreciation
$
16,000
Accounts
payable
$
1,800
Common
stock
$
5,000
Retained
earnings
?
The beginning balance of retained earnings was $28,000, net
income is budgeted to be $11,500, and dividends are budgeted to be
$4,800....
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following...
The management of
Mecca Copy, a photocopying center located on University Avenue, has
compiled the following data to use in preparing its budgeted
balance sheet for next year:
Ending Balances
Cash
?
Accounts
receivable
$
8,100
Supplies
inventory
$
3,200
Equipment
$
34,000
Accumulated
depreciation
$
16,000
Accounts
payable
$
1,800
Common
stock
$
5,000
Retained
earnings
?
The beginning balance
of retained earnings was $28,000, net income is budgeted to be
$11,500, and dividends are budgeted to be $4,800....
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following...
The management of Mecca Copy, a photocopying center located on
University Avenue, has compiled the following data to use in
preparing its budgeted balance sheet for next year:
Ending Balances
Cash
?
Accounts receivable
$
9,800
Supplies inventory
$
4,000
Equipment
$
42,500
Accumulated depreciation
$
17,200
Accounts payable
$
3,500
Common stock
$
5,000
Retained earnings
?
The beginning balance of retained earnings was $34,000, net
income is budgeted to be $18,100, and dividends are budgeted to be
$4,100....
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following...
The management of Mecca Copy, a photocopying center located on
University Avenue, has compiled the following data to use in
preparing its budgeted balance sheet for next year:
Ending Balances
Cash
?
Accounts receivable
$
8,500
Supplies inventory
$
4,700
Equipment
$
36,000
Accumulated depreciation
$
14,600
Accounts payable
$
2,200
Common stock
$
5,000
Retained earnings
?
The beginning balance of retained earnings was $32,000, net
income is budgeted to be $16,300, and dividends are budgeted to be
$2,700....
The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to...
The following transactions were selected from the records of
Evergreen Company: July 12 Sold merchandise to Wally Butler, who
paid the $1,060 purchase with cash. The goods cost Evergreen
Company $630. 15 Sold merchandise to Claudio’s Chair Company at a
selling price of $5,060 on terms 3/10, n/30. The goods cost
Evergreen Company $3,530. 20 Sold merchandise to Otto’s Ottomans at
a selling price of $3,030 on terms 3/10, n/30. The goods cost
Evergreen Company $1,930. 23 Received cash from...
The following transactions were selected from the records of Evergreen Company: July 12 Sold merchandise to...
The following transactions were selected from the records of
Evergreen Company:
July 12 Sold merchandise to Wally Butler, who paid the $1,140
purchase with cash. The goods cost Evergreen Company $670.
16 Sold merchandise to Claudio’s Chair Company at a selling
price of $5,140 on terms 3/10, n/30. The goods cost Evergreen
Company $3,570.
19 Sold merchandise to Otto’s Ottomans at a selling price of
$3,070 on terms 3/10, n/30. The goods cost Evergreen Company
$1,970.
23 Received cash from...
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