Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Actually, I was able to work through these and done need them answered anymore. Thanks Suppose the number of residents within five miles of each

  1. Actually, I was able to work through these and done need them answered anymore. Thanks
  2. Suppose the number of residents within five miles of each of your stores is asymmetrically distributed with a mean of 21 thousand and a standard deviation of 12.9 thousand.What is the probability that the average number of residents within five miles of each store in a sample of 45 stores will be more than 23.5 thousand?Please specify your answer in decimal terms and round your answer to the nearest hundredth (e.g., enter 12 percent as 0.12).

2.Suppose the average commute time of your employees is unknown. The standard deviation of their commute time is estimated as 28.4 minutes.

How many employees must be included in a sample to a 99 percent confidence interval for the average commute time with a confidence interval width of no more than 20 minutes?

Note that the correct answer will be evaluated based on the z-values in the summary table in the Teaching Materials section.

Remember to round your answerupto an integer.

Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel

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

An Introduction to the Mathematics of Financial Derivatives

Authors: Ali Hirsa, Salih N. Neftci

3rd edition

012384682X, 978-0123846822

More Books

Students also viewed these Mathematics questions