Company A is trying to sell its website to Company B. As part of the sale, Company A claims that the average user of their
Company A is trying to sell its website to Company B. As part of the sale, Company A claims that the average user of their site stays on the site for 10 minutes. To test this claim, Company B uses the following procedure: collects the times for 11 randomly selected users and compute the 99% confidence interval for the true mean time spent on the web site. Assume normality. Assignment 6q3 data a) What is the lower limit of the 99% interval? Give your answer to three decimal places. Enter 0 if your lower limit is less than 0. S b) What is the upper limit of the 99% interval? Give your answer to three decimal places. E c) Based on this data, do you believe the claim made by Company A? 0 Yes because 10 is inside the interval. 0 No because 10 is inside the interval. 0 Yes because 10 is not inside the interval. 0 No because 10 is not inside the interval. CI) Which of the following assumptions should be checked before constructing the above confidence interval? 0 The data need to be skewed O The data need to follow a normal distribution 0 The data need to have small variance 0 The data need to follow a t distribution e) Which of the following statements is the correct interpretation of the above confidence interval? 0 If Company B repeats the procedure many times, approximately 99% of the confidence intervals will contain the true mean time spent on the web site 0 None of them is correct 0 The probability that the true mean time spent on the web site is within the confidence interval is 99% O The probability that the sample mean is within the confidence interval is 99%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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