In trying to determine the sphere of influence of a sports centre a random sample of 100

Question:

In trying to determine the sphere of influence of a sports centre a random sample of 100 visitors was taken. This indicated a mean travel distance (d) of 10 miles with a standard deviation of 3 miles:

(a) What are the 90% confidence limits for the population mean travel distance (D),

(b) What sample size would be required to ensure that the confidence interval for D was 0.5 miles at the 95% level?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Statistics Using Excel

ISBN: 9780199659517

2nd Edition

Authors: Glyn Davis, Branko Pecar

See More Books

Question Posted: Nov 25, 2023 04:43 AM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
The life in hours of a battery is known to be approximately normally distributed, with standard deviation = 1.25 hours. A random sample of 10 batteries has a mean life of hours. (a) Is there evidence...
Find the volume of the largest box of the type shown in Figure 24, with one corner at the origin and the opposite corner at a point P = (x, y, z) on the paraboloid z = 1- X x 4 9 N with x, y, z 0 P y
Manpower requirements indicate that a specific functional pool will increase sharply from eight to seventeen people over the next two weeks and then drop back to eight people. Should you question...
Janet (who has made no taxable gifts) is considering transferring assets valued at $9 million to an irrevocable trust (yet to be created) for the benefit of her son, Gordon, age 15, with Farmers Bank...
The following information has been taken from the consolidation worksheet of Peak and its 90 percent-owned subsidiary, Valley: LO4 Peak reports a $ 12,000 gain on the sale of a building. The building...
Self-described "sports nut" Gary Baker signed up for a three-year club-seat "package" that entitled him and a companion to tickets for 41 Boston Bruin hockey games and 41 Boston Celtic basketball...
Hermosa, Inc., produces one model of mountain bike. Partial information for the company follows: Number of bikes produced and sold 500 840 920 Total costs Variable costs $ 124,000 $ ? $ ? Fixed costs...
The masses, in grams, of 13 ball bearings taken at random from a batch are: 21.4, 23.1, 25.9, 24.7, 23.4, 24.5, 25.0, 22.5, 26.9, 26.4, 25.8, 23.2, and 21.9. Calculate a 95% confidence interval for...
The standard deviation for a method of measuring the concentration of nitrate ions in water is known to be 0.05 ppm. If 100 measurements give a mean of 1.13 ppm, calculate the 90% confidence limits...
Problems 4251. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for later sections, a final exam, or subsequent courses such as calculus. If x...
Problem 1 PROBLEMS Sabres Limited, a Canadian-controlled private corporation whose fiscal year end is December 31, provides you with the following data concerning its tax accounts and capital...
9.6. A habitual gambler often visits three different casinos and plays roulette there. He wants to discover at which casino he has better luck with his roulette games. So, he records his gambling...
The firm has estimated that its sales for 2 0 1 3 will be $ 8 4 6 , 7 5 6 Cash dividends to be paid by the firm in 2 0 1 3 $ 3 7 , 7 2 0 Minimum cash balance to be maintained by the firm $ 2 8 , 5 1...
Bob Long was hired by County Hospital aS supervisor of engineering and maintenance. Although well experienced in his field, this was his first management job. Soon after Bob's arrival a maintenance...
Initial Outlay (IO) 1. A company is considering purchasing a machine for $100,000. Shipping costs would be another $5,000. The project would require an initial investment in net working capital of...
Natural Cosmetics Company applies overhead costs on the basis of machine hours. The overhead rate is computed by analyzing data from the previous year to determine the percentage change in costs....
A stock has had returns of 8 percent, 26 percent, 14 percent, 17 percent, 31 percent, and 1 percent over the last six years. What are the arithmetic and geometric average returns for the stock?
The vegetable buyer for a group of grocery stores has decided to sell packages of sprouted grain in the vegetable section of the stores. The product is perishable and any remaining unsold after one...
Cathy Gwynn, a recently graduated engineer, decided to invest some of her money in a "Quick Shop" grocery store. The store emphasizes quick service, a limited assortment of grocery items, and rather...
Jim Jones, a motel owner, noticed that just down the street the "Motel 36" advertises a $36-per-night room rental rate on its sign. As a result, this competitor rents all 80 rooms every day by late...
3. The nominal interest rate compounded monthly when your $7,000 becomes $11,700 in eight years is ________
An investor can design a risky portfolio based on two stocks, A and B. Stock A has an expected return of 21% and a standard deviation of return of 39%. Stock B has an expected return of 14% and a...
Advanced Small Business Certifica Drag and Drop the highlighted items into the correct boxes depending on whether they increase or decrease Alex's stock basis. Note your answers- you'll need them for...

In trying to determine the sphere of influence of a sports centre a random sample of 100

Question:

Step by Step Answer:

a To find the 90 confidence limits for the population mean travel distance D we can use the formula ...View the full answer

Business Statistics Using Excel

Students also viewed these Business questions