What are sampling distributions? How do they assist in marketing?
1. Consider a small population of 4 MBA students who are in the job market. One of the students has no job offers. 1 of the students has 1 job offer and the remaining 2 students each have two job offers. (a) Find the sampling distribution of the average number of job offers if the sample of size 2 is taken with replacement. (
A company supplies poultry farmers with hens, advertising that a mature B300 Layer produces eggs with a mean weight of 60.7 grams. Suppose that egg weights follow a Normal model with standard deviation 3.1 grams. A. What fraction of the eggs produced by these hens weigh more than 62 grams? B. What's the probability that
A cola dispensing machine is set to depense 9 ounces per cup with a standard deviation of .5 oz .THe manufacturer would like to set the control limits so that for samples of 16, 5% of the sample means will be greater than the upper limit and 5% of the sample means less than the lower limit. a at what values should the contro
The amount of time that it takes to take an exam has a skewed-to-left distribution with a mean of 65 minutes and a standard deviation of 8 minutes. A sample of 64 students will be selected at random. A. Which of the following properly describes the distribution of the amount of time it takes to take an exam? aa)N(65,8) bb) N(65,
NBA salaries averaged 2.1 million with a standard deviation of 1.2 million in 2000. Suppose a sample of 36 NBA players was taken. A. What is the sampling distribution of the sample mean? aa) Approximately N(2.1, 1.2) (unit in millions) bb)Approximately N(1.2, 2.1) cc) Approximately N(2.1, .2) dd) Approximately N(1.2, .35) B. Wha
P9.43 The SEC requires companies to file annual reports concerning their financial status. It is impossible to audit every account receivable. Suppose we audit a random sample of 49 accounts receivable invoices and find a sample average of $128 and a sample standard deviation of $53. a) Find a 99% confidence interval fo
A person runs one mile to his house as fast as he can. It is equally likely that he will run at an average speed of 3 miles per hour, 6 miles per hour, and 9 miles per hour. What is the e-value of your distribution of the time it will take this person to get home? Multiple choice answers: a) 8 minutes b) 10 minutes c)