PLEASE KINDLY DO BOTH QUESTIONS. THANK YOU IN ADVANCE. 1) Let x represent the dollar amount spent on supermarket impulse
Posted: Mon Nov 15, 2021 12:21 pm
PLEASE KINDLY DO BOTH QUESTIONS. THANK YOU IN ADVANCE.
1) Let x represent the dollar amount
spent on supermarket impulse buying in a 10-minute (unplanned)
shopping interval. Based on a certain article, the mean of
the x distribution is about $43 and
the estimated standard deviation is about $9.
(a) Consider a random sample
of n = 100 customers, each of whom has
10 minutes of unplanned shopping time in a supermarket. From the
central limit theorem, what can you say about the probability
distribution of x, the average amount spent by these
customers due to impulse buying? What are the mean and standard
deviation of the x distribution?
The sampling distribution of x is
approximately normal with mean ðx =
43 and standard deviation ðx =
$0.90.The sampling distribution of x is not
normal. The sampling distribution
of x is approximately normal with
mean ðx = 43 and standard
deviation ðx = $9.The sampling
distribution of x is approximately normal with
mean ðx = 43 and standard
deviation ðx = $0.09.
Is it necessary to make any assumption about the shape of
the x distribution? Explain your
answer.
It is necessary to assume that the shape of
the x distribution is approximately Normal even
though it is not stated.It is not necessary to make any assumption
about the x distribution because
both ð and ð are given and they are very
large. It is not necessary to make any
assumption about the x distribution since the
sample size, n, is large.It is necessary to assume
since the population size was not given.
(b) What is the probability that x is
between $41 and $45? (Round your answer to four
decimal places.)
2) Suppose that 50% of the subscribers of a cable
television company watch the shopping channel at least once a week.
The cable company is trying to decide whether to replace this
channel with a new local station. A survey of 100
subscribers will be undertaken. The cable company has decided
to keep the shopping channel if the sample proportion is greater
than 0.56.
What is the approximate probability that the cable company will
keep the shopping channel, even though the true proportion who
watch it is only 0.50? (Round your answer to four decimal
places.)
P(pĖ > 0.56) =
1) Let x represent the dollar amount
spent on supermarket impulse buying in a 10-minute (unplanned)
shopping interval. Based on a certain article, the mean of
the x distribution is about $43 and
the estimated standard deviation is about $9.
(a) Consider a random sample
of n = 100 customers, each of whom has
10 minutes of unplanned shopping time in a supermarket. From the
central limit theorem, what can you say about the probability
distribution of x, the average amount spent by these
customers due to impulse buying? What are the mean and standard
deviation of the x distribution?
The sampling distribution of x is
approximately normal with mean ðx =
43 and standard deviation ðx =
$0.90.The sampling distribution of x is not
normal. The sampling distribution
of x is approximately normal with
mean ðx = 43 and standard
deviation ðx = $9.The sampling
distribution of x is approximately normal with
mean ðx = 43 and standard
deviation ðx = $0.09.
Is it necessary to make any assumption about the shape of
the x distribution? Explain your
answer.
It is necessary to assume that the shape of
the x distribution is approximately Normal even
though it is not stated.It is not necessary to make any assumption
about the x distribution because
both ð and ð are given and they are very
large. It is not necessary to make any
assumption about the x distribution since the
sample size, n, is large.It is necessary to assume
since the population size was not given.
(b) What is the probability that x is
between $41 and $45? (Round your answer to four
decimal places.)
2) Suppose that 50% of the subscribers of a cable
television company watch the shopping channel at least once a week.
The cable company is trying to decide whether to replace this
channel with a new local station. A survey of 100
subscribers will be undertaken. The cable company has decided
to keep the shopping channel if the sample proportion is greater
than 0.56.
What is the approximate probability that the cable company will
keep the shopping channel, even though the true proportion who
watch it is only 0.50? (Round your answer to four decimal
places.)
P(pĖ > 0.56) =