Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(a) Construct a frequency distribution table with appropriate bin size (class width). Number of classes should be 8. (5 marks) (b) Construct a histogram and
(a) Construct a frequency distribution table with appropriate bin size (class width). Number of classes should be 8. (5 marks) (b) Construct a histogram and a cumulative frequency polygon to represent the data. (15 marks) (c) Find the mean and standard deviation for the monthly sales of the 60 outlets. (5 marks) (d) If one outlet is chosen randomly, what is the probability that the weekly sales will be within $8000 from the sample mean. (5 marks) (e) Find the best point estimate for the population mean and population standard deviation of the weekly sales. Obtain a 95% confidence interval for the population mean of the weekly sales. (10 marks) ( f) It is claimed that the weekly sales for all the outlets to be more than RM53,000. Based on the above 60 samples, is there sufficient evidence to conclude that the revenue has increased? Carry out a complete hypothesis testing at 5% significant level. (10 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started