Question
In: Statistics and Probability
(1 point) A market research firm supplies manufacturers with estimates of the retail sales of their...
(1 point) A market research firm supplies manufacturers with
estimates of the retail sales of their products from samples of
retail stores. Marketing managers are prone to look at the estimate
and ignore sampling error. An SRS of 1414 stores this year shows
mean sales of 7171 units of a small appliance, with a standard
deviation of 8.28.2 units. During the same point in time last year,
an SRS of 1515 stores had mean sales of 78.62678.626 units, with
standard deviation 7.37.3 units. A decrease from 78.62678.626 to
7171 is a drop of about 11%.
1. Construct a 99% confidence interval estimate of the difference
μ1−μ2μ1−μ2, where μ1μ1 is the mean of this year's sales and μ2μ2 is
the mean of last year's sales.
(a) __?__<(μ1−μ2)<<(μ1−μ2)<____?___
(b) The margin of error is :
Solutions
orchestra answered 1 year agoRelated Solutions
(1 point) A market research firm supplies manufacturers with estimates of the retail sales of their...
(1 point) A market research firm supplies manufacturers with
estimates of the retail sales of their products from samples of
retail stores. Marketing managers are prone to look at the estimate
and ignore sampling error. An SRS of 1414 stores this year shows
mean sales of 8383 units of a small appliance, with a standard
deviation of 7.67.6 units. During the same point in time last year,
an SRS of 2424 stores had mean sales of75.62875.628 units, with
standard deviation...
(1 point) A market research firm supplies manufacturers with estimates of the retail sales of their...
(1 point) A market research firm supplies manufacturers with
estimates of the retail sales of their products from samples of
retail stores. Marketing managers are prone to look at the estimate
and ignore sampling error. An SRS of 11 stores this year shows mean
sales of 58 units of a small appliance, with a standard deviation
of 7 units. During the same point in time last year, an SRS of 14
stores had mean sales of 51.21 units, with standard...
A market research firm supplies manufacturers with estimates of the retail sales of their products from...
A market research firm supplies manufacturers with estimates of
the retail sales of their products from samples of retail stores.
Marketing managers are prone to look at the estimate and ignore
sampling error. An SRS of 16 stores this year shows mean sales of
64 units of a small appliance, with a standard deviation of 14.6
units. During the same point in time last year, an SRS of 10 stores
had mean sales of 49.254 units, with standard deviation 5.4...
A market research firm supplies manufacturers with estimates of the retail sales of their products from...
A market research firm supplies manufacturers with estimates of
the retail sales of their products from samples of retail stores.
Marketing managers are prone to look at the estimate and ignore
sampling error. An SRS of 29 stores this year shows mean sales of
61 units of a small appliance, with a standard deviation of 6.2
units. During the same point in time last year, an SRS of 17 stores
had mean sales of 53.994 units, with standard deviation 7.7...
A market research firm supplies manufacturers with estimates of the retail sales of their products from...
A market research firm supplies manufacturers with estimates of
the retail sales of their products from samples of retail stores.
Marketing managers are prone to look at the estimate and ignore
sampling error. An SRS of 25 stores this year shows mean sales of
83 units of a small appliance, with a standard deviation of 13.6
units. During the same point in time last year, an SRS of 14 stores
had mean sales of 68.176 units, with standard deviation 3.4...
A market research firm supplies manufacturers with estimates of the retail sales of their products from...
A market research firm
supplies manufacturers with estimates of the retail sales of their
products from samples of retail stores. Marketing managers are
prone to look at the estimate and ignore sampling error. An SRS of
1010 stores this year shows mean sales of 8282 units of a small
appliance, with a standard deviation of 9.29.2 units. During the
same point in time last year, an SRS of 1414 stores had mean sales
of 89.8289.82 units, with standard deviation 13.413.4...
A market research firm supplies manufacturers with estimates of the retail sales of their products from samples of retail stores.
A market research firm supplies manufacturers with estimates of the retail sales of their products from samples of retail stores. Marketing managers are prone to look at the estimate and ignore sampling error. An SRS of 29 stores this year shows mean sales of 74 units of a small appliance, with a standard deviation of 12.2 units. During the same point in time last year, an SRS of 26 stores had mean sales of 62.166 units, with standard deviation 15.2...
A market research firm has been hired to investigate the variability of retail pricing on an...
A market research firm has been hired to investigate the
variability of retail pricing on an item that is sold in stores in
Los Angeles and in San Diego. They gather data from a sample of 21
stores in Los Angeles and 16 stores in San Diego. The sample
standard deviations (s) of the sales prices are Los Angeles stores
= $12 and San Diego Stores = $14. Determine whether the price
variation in these two cities is the same....
A manufacturer of small appliances employs a market research firm to look into sales of its...
A manufacturer of small appliances employs a market research
firm to look into sales of its products. Shown below are last
month's sales of electric can openers from a random sample of 50
stores. The manufacturer would like to know if there is convincing
evidence in these data that the mean can opener sales for all
stores last month was more than 22.
Sales
19
19
16
19
25
26
24
63
22
16
13
26
34
10
48
16...
Characteristics Monopolistic Competition Oligopoly Number of firm(s) in the market (1 point)…………………… (1 point)…………………… Number of...
Characteristics
Monopolistic Competition
Oligopoly
Number of firm(s) in the market
(1 point)……………………
(1 point)……………………
Number of firm(s) dominating the market
(1 point) ………………
(1 point)……………………
Products differentiation
(1 point) …………………
(1 point)……………………
Barriers to entry
(1 point) …………………
(1 point)……………………
Monopoly power of firms
(1 point) …………………
(1 point)……………………
Explain the different characteristics between a
monopolistic competition and an oligopolistic market!
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