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(1.8.1 (1.8.2 (1.8.3 A large manufacturing company claims that more than 88% of its customers are fully (8) satisfied with the company's products. Test this
(1.8.1 (1.8.2 (1.8.3 A large manufacturing company claims that more than 88% of its customers are fully (8) satisfied with the company's products. Test this claim at the 5% significance level, if a survey found that 360 out of a random sample of 400 of the company's customers said that they were fully satisfied with the company's products. The CEO of Global Investment Funds claims that, on average, clients leave their (9) investment funds with the company for a period of at least 55 months. Test this claim at the 10% significance level, if it was found that a sample of 29 clients left their investment funds with the com pa ny for an average period of 58.85 months, with a standard deviation of 3.75 months. A shop owner claims that on average, his shop has a daily turnover of R75 000. Test (8) this claim at the 5% significance level, if the average daily turnover for a sample of 88 days was R71 500. Assume a population standard deviation of R4 450
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