Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. A random sample of 100 cars in the drivethrough of a popular fastfood restaurant revealed an average bill of $96.80 per car. The population

image text in transcribed
image text in transcribed
5. A random sample of 100 cars in the drivethrough of a popular fastfood restaurant revealed an average bill of $96.80 per car. The population standard deviation is $15.20 a. Calculate the margin of error at 99% confidence level. (1 Mark) b. Construct a 99% condence interval for the population mean. (2 Marks) c. Calculate the sample size at 95% confidence level if the margin of error is 1. (2 Marks) [Total: 5 Marks] 6. Bajirao is considering investing in a Mary Brown franchise and would like to test the hypothesis that the average monthly sales exceed RMTODOO. A random sample of 7 Mary Brown restaurants had an average monthly sale of RM79,640 with a sample standard deviation of RM7,989. Test Bajirao's claim using a = 0.05 that the average monthly sales of Mary Brown restaurants exceed RM70,000. Answer the following questions. a. identify the clalm and state the Ho and H1. (1 Mark) in. Find the critical value. (1 Mark) 0. Calculate the test statistic. (1 Mark) d. Make a decision to reject or fail to reject the Hg. (1 Mark) e. Interpret the decision in the context of the original claim. (1 Mark)

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_2

Step: 3

blur-text-image_3

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

Algebra And Number Theory An Integrated Approach

Authors: Martyn R Dixon, Leonid A Kurdachenko, Igor Ya Subbotin

1st Edition

0470640537, 9780470640531

More Books

Students also viewed these Mathematics questions

Question

5. Give examples of binary thinking.

Answered: 1 week ago