Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. A mail-order clothing company keeps track of how much each customer has spent in the last year. Among the 35,228 customers, the average amount

image text in transcribed
image text in transcribed
3. A mail-order clothing company keeps track of how much each customer has spent in the last year. Among the 35,228 customers, the average amount spent is $203.55, and the SD is $205.23. Information about the distribution of the amounts is summarized in the table below. Amount spent in last year Number of customers so - $50 6341 550-5100 7398 $100-$200 10921 $200-$500 7750 5500-51000 2818 (a) Carry out the calculations and draw a histogram of the amounts using the density scale. (b) {Continuation of #3) Suppose someone is hired by the company to take a survey of 150 randomly selected customers, to ask them about their clothing preferences. Among the sampled customers, only 10 of them report spending between SCI-$50 in the last year. Has something gone wrong with the sampling, or do you think this might have happened just by chance? Explain your answer thoroughly

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

Students also viewed these Mathematics questions