Recall that a customer is considered to be very satisfied with his or her XYZ Box video
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For the sake of argument, we begin by assuming that μ equals 42. and we then attempt to use the sample to contradict this assumption in favor of the conclusion that μ. exceeds 42. Recall that the mean of the sample of 65 satisfaction ratings is = 42.95, and assume that a, the standard deviation of the population of all satisfaction ratings, is known to be 2.64.
a. Consider the sampling distribution of for random samples of 65 customer satisfaction ratings. Use the properties of this sampling distribution to find the probability of observing a sample mean greater than or equal to 42.95 when we assume that μ equals 42.
b. If μ equals 42, what percentage of all possible sample means are greater than or equal to 42.95? Since we have actually observed a sample mean of = 42.95, is it more reasonable to believe that (l) ft equals 42 and we have observed a sample mean that is greater than or equal to 42.95 when μ equals 42, or (2) that we have observed a sample mean that is greater than or equal to 42.95 because μ is greater than 42? Explain. What do you conclude about whether customers are typically very satisfied with the XYZ Box video game system? 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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Related Book For
Business Statistics In Practice
ISBN: 9780073401836
6th Edition
Authors: Bruce Bowerman, Richard O'Connell
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