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In: Statistics and Probability
QUESTION 1 (15 marks) The number of customers per shop per day for a franchised business...
QUESTION 1 The number of customers per shop per day for a franchised business with nearly 10,000 stores nationwide is 900 people To increase the number of customers, the franchise owner is considering cutting down on the price of coffee drinks To test this new initiative, the store has reduce coffee prices in a sample of 25 stores. It is found that the mean of the number of customers per store in one day is 974 and the standard deviation is 96. At the 0.01 level, indicate whether there is significant evidence that reducing coffee prices is a good strategy to increase the mean of customers A study by the Pew Internet and American Life Project found that Americans have a complex and divisive attitude toward technology. This study reports that 8% of respondents are 'Omnivores,' who like gadgets, send text, make videos and upload material to YouTube. Andy believes that the percentage of students at his university 'Omnivores is greater than 8%. Andy took a sample of 200 students at his university and found that 30 students could be classified as' Omnivores. At the 0.05 level, indicate whether there is significant evidence that the percentage of Omnivores in the university is greater than 8%.
Solutions
orchestra answered 1 year agoRelated Solutions
Question 1:- (15 marks) a) Assuming that you are running a printing shop. Identify 3 items...
Question 1:-
a) Assuming that you are running a printing shop. Identify 3
items as fixed costs and 3 items as variable costs of your
business. Hint: You also need to determine the level of activity in
your business.
b) What would be the implications if a business does not prepare
a budget? Explain your views
c) Choose one limitation of budgeting and write clearly on that
point using your own words.
QUESTION 1 (15 MARKS) Suppose that the government of China decided to impose a per unit...
QUESTION 1
Suppose that the government of China decided to impose a per
unit tax on the suppliers of salt.
a. Using a supply and demand model, show and explain the impact
that the per-unit tax had on the equilibrium price and quantity of
salt.
b. Using the diagram created for your answer to (a), show and
explain what effect the per unit tax had on consumer surplus,
producer surplus and deadweight loss.
c. List three reasons a government may...
QUESTION 1. The data for number of sleeping hours per day were recorded as below A...
QUESTION 1. The data for number of sleeping hours per day were
recorded as below
A sample of 15 males has a sample mean of 7.3 hours and the
population standard deviation is assumed to be 1.26 hours.
A sample of 18 females has a sample mean of 7.8 hours and the
population standard deviation is assumed to be 1.51 hours.
a) Use the P-VALUE METHOD with a 0.08 significance level to test
the claim that the mean number of...
QUESTION 1 [Total = 15 marks] James and Adrian are starting up their own small business,...
QUESTION 1 [Total = 15 marks]
James and Adrian are starting up their own small business, which
involves the development and delivery of an online identity
verification service, to which other businesses can sign up for a
fee.
James has been working on developing the computer program and
delivering the service with the support of friends for some time,
with some success; having signed up a few businesses based in
Brisbane and becoming a well-known figure in the local industry...
The average number of customers visiting the science center was 800 per day last year and...
The average number of customers visiting the science center was
800 per day last year and the populations standard deviation is 250
customers per day.
1. In a span of a month, i.e. 30 days, write out the
distribution of the sample mean
2. What is the probability that the sample mean is over 275
customers per day in a month?
3. What is the probability that the sample mean is less than 275
customers per day in a month?...
Question 5 (15 marks) Kitty went to a toy shop, SuperToy, to buy a birthday gift...
Question 5
Kitty went to a toy shop, SuperToy, to buy a birthday gift for
her son, Johnny. In the shop, Kitty expressly told the salesperson
that she would like to buy a gift for a 2-year old child. The
salesperson then recommended her a robot, which could walk and
talk. A few days later, Johnny put a small component of the robot
in his nose and was injured. Kitty then discovered in the robot’s
user manual that the toy...
QUESTION 1 (15 marks) Studd Enterprises sells big-screen televisions. A concern of management is the number...
QUESTION 1
Studd Enterprises sells big-screen televisions. A concern of
management is the number of televisions sold each day. A recent
study revealed the number of days that a given number of
televisions were sold.
# of TV units sold # of
days
0
2
4
10
12
8
4
Answer the questions below. For each part, show your
calculations and/or explain briefly how you arrived at your answer,
as appropriate or needed.
Required:
Convert the frequency distribution...
QUESTION 1 (15 marks) Studd Enterprises sells big-screen televisions. A concern of management is the number...
QUESTION 1
Studd Enterprises sells big-screen televisions. A concern of
management is the number of televisions sold each day. A recent
study revealed the number of days that a given number of
televisions were sold.
# of TV units sold # of
days
0
2
4
18
12
10
4
Answer the questions below. For each part, show your
calculations and/or explain briefly how you arrived at your answer,
as appropriate or needed.
Required:
Convert the frequency distribution above into...
QUESTION 1 (15 marks) Studd Enterprises sells big-screen televisions. A concern of management is the number...
QUESTION 1
Studd Enterprises sells big-screen televisions. A concern of
management is the number of televisions sold each day. A recent
study revealed the number of days that a given number of
televisions were sold.
# of TV units sold # of
days
0
2
4
10
12
8
4
Answer the questions below. For each part, show your
calculations and/or explain briefly how you arrived at your answer,
as appropriate or needed.
Required:
Convert the frequency distribution...
Question 3(a): When customers arrive at Cool's Ice Cream Shop, they take a number and wait...
Question 3(a):
When customers arrive at Cool's Ice Cream Shop, they take a number
and wait to be called to purchase ice cream from one of the counter
servers. From experience in past summers, the store's staff knows
that customers arrive at a rate of 150 per hour on summer days
between 3:00 p.m. and 10:00 p.m., and a server can serve 1 customer
in 1 minute on average. Cool's wants to make sure that customers
wait no longer than...
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