Foot Locker uses sales per square foot as a measure of store productivity. Sales are currently running

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Foot Locker uses sales per square foot as a measure of store productivity. Sales are currently running at an annual rate of $406 per square foot (The Wall Street Journal, March 7, 2012). You have been asked by management to conduct a study of a sample of 64 Foot Locker stores. Assume the standard deviation in annual sales per square foot for the population of all 3400 Foot Locker stores is $80.

a. Show the sampling distribution of x, the sample mean annual sales per square foot for a sample of 64 Foot Locker stores.

b. What is the probability that the sample mean will be within $15 of the population mean?

c. Suppose you find a sample mean of $380. What is the probability of finding a sample mean of $380 or less? Would you consider such a sample to be an unusually low performing group of stores?


Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Essentials Of Statistics For Business And Economics

ISBN: 9781305081598

7th Edition

Authors: David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam

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