Purchase Solution

The manager of the Inlet Square Mall, just north of Ft. Meye

Not what you're looking for?

Ask Custom Question

The manager of the Inlet Square Mall, just north of Ft. Meyers, Florida, wants to estimate the mean amount spent per shopping visit by customers. A sample of 20 customers reveals the following amounts spent: (Data in the excel file).

What is the best estimate of the population mean? Determine a 95 percent confidence interval. Interpret the result, would it be reasonable to conclude that the population mean is $50? What about $60?

Attachments
Purchase this Solution
Solution Summary

Compute the best estimate of the population mean, compute the 95% confidence interval and test whether $50 and $60 can be the population mean.

Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

View More Free Quizzes
Related BrainMass Solutions

  • solving quadratic equations and inequality

    After mixing, the total volume of 12% acid is (x+40) ml. 80 ml of 8% acid needed. 16) 17) 18) or 19) So , 20) Multiply 12 on both sides So , 21) ft 22) Square both

  • Inlet velocity and flow from approach piping to the stilling well

    > Then from the diffuser tube bank, the water flows into a semi-enclosed channel with progressively smaller and smaller dimension until the water exits the small opening of this "sheet flow" channel and fills a 4 ft. x 4 ft x 2 ft high tank below it

  • Flow and Momentum

    The entrance velocity is 100 f/s, the gas density is .02lbm/cubic ft. and the mass flow rate is 1 lbm/cubic ft. The gas is cooled before exiting the bend and exits the bend at a density of .06 lbm/cubic ft.

  • minimize the annual inventory costs

    For the assumed figures, just replace them o get the answer EOQ = square root [(2 x 12,000 x $10)/$5] = 219 units per order Number of orders a year = 12,000 units / 219 units per order = 55 orders Total cost of ordering 219 boxes everytime Ordering

  • Allocation of occupancy costs

    In prior periods, the accounting manager merely divided the $80,000 occupancy cost by 10,000 square feet to find an average cost of $8 per square foot and then charged each department a building occupancy cost equal to this rate times the number of

  • Deciding how to best merchandise a leased premises

    When meeting with the development/construction manager of the mall there several things that one should try and consider BEFORE planning a merchandise lay out.

  • Waiting lines problems

    The manager believes that he can expect patrons to arrive at the rate of 20 per hour, and mall staff or delivery persons to arrive at the rate of 5 per hour.

  • Hydrostatics/Hydrodynamics: Pressure and Bernoulli equation

    The velocity at the inlet (station 1) is 100 ft/s, and the area ratio between station 1 and 2 is 0.6 (A2/A1 = 0.6). Two pressure taps, 10 ft apart, are connected to a differential manometer, as shown.

  • Calculating Heat Energy and Work

    Problem 1: > A piece of wood is 2ft x 2ft x 0.25 ft ----- the hot plate is also 2ft x 2ft square > A wet piece of wood is placed on a steam heated hot plate ---- the dry weight of the wood is 10 lbs ----- the weight of the water in the

View More Related Solutions