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Help with formula please Mini-Case #4: Answer the 12 questions below as indicated (be sure to note the required number of decimal places for each
Help with formula please
Mini-Case #4: Answer the 12 questions below as indicated (be sure to note the required number of decimal places for each of the three Scenarios). This Mini-Case must be uploaded to CANVAS no later than 12 noon on Wednesday, April 13 (no late submissions will be accepted). This Mini-Case is worth 13 points (1 point for each answer and 1 point for Answer format The objective of Scenario 1 is to assess your understanding of the use of the standard error Scenario 1: A company is tracking its customer satisfaction scores on a quarterly when answering questions about an average. You basis by obtaining a random sample of 40 customers and analyzing the average may want to review Section 5 of Chapter 7 first. score of the customer's rating. Suppose in the past the average rating score has Show your answers to 4 decimal places (for been 4.1 (with 5 being the best possible) with a standard deviation of 1.32. Answers example, 0.2351). 1 What is the probability that the next sample of 40 customers will yield an average score greater than 4.2? (Be sure to use Excel's NORM.DIST function to generate the answer. Show your answer to 4 decimal places.) 2 What is the probability that the next sample of 40 customers will yield an average score less than 4.0? (Be sure to use Excel's NORM.DIST function to generate the answer. Show your answer to 4 decimal places.)Step by Step Solution
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