In: Statistics and Probability
12: A random sample of 50 drive-thru customers at Burger World
(a subsidy of Malco, Inc.)...
12: A random sample of 50 drive-thru customers at Burger World
(a subsidy of Malco, Inc.) was taken to determine the average
transaction time after the order was placed during the evening rush
(4:00 PM to 6:00 PM). The edited Data Analysis output
is shown below. Answer the following five questions. (3.5
pts.)
Transaction Time
|
|
|
Mean
|
3.811
|
|
|
Median
|
3.83
|
Mode
|
4.58
|
Standard Deviation
|
1.530
|
Sample Variance
|
2.340
|
Kurtosis
|
0.813
|
Skewness
|
-0.175
|
Range
|
8.23
|
Minimum
|
-0.36
|
Maximum
|
7.87
|
Sum
|
190.56
|
Count
|
50
|
Confidence Level(95.0%)
|
0.435
|
- Identify the degrees of freedom and the
critical value of t used in the calculation of the 95% confidence
interval.
- Calculate the lower confidence limit (LCL) and the upper
confidence limit (UCL). (Round the LCL and UCL to two
decimal places, (i.e., 12.13, 45.67.)
- Interpret the confidence interval: I am _____ confident that
the _________ of transaction time is between the lower confidence
limit (LCL) and the upper confidence limit (UCL).
- If the confidence level is changed to 99 percent, does the
width of the confidence interval increase or decrease?
- Would it be reasonable or plausible to conclude that the
population mean is four minutes? Explain your reasoning.
- What is the standard error of the mean? Show the SE to three
decimal places, (i.e., .123).
- What sample size is needed to reduce the standard error by
half?