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Question 2: (from chapter 8) The branch manager of an outlet (Store 1) of a nationwide chain of pet supply stores wants to study characteristics
Question 2: (from chapter 8) The branch manager of an outlet (Store 1) of a nationwide chain of pet supply stores wants to study characteristics of her customers. In particular, she decides to focus on two variables: the amount of money spent by customers and whether the customers own only one dog, only one cat, or more than one dog and/or cat. The results from a sample of 70 customers are as follows: Average amount of money spent in $5 21,34 S.D. of amount of money spent in $s: 9,23 Thirty-six customers own only a cat. Seven customers own more than one dog and/or cat. a. Construct a 95% condence interval estimate for the population mean amount spent in the pet supply store. b. Construct a 95% condence interval estimate for the population proportion of customers who own only a cat. The branch manager of anpther outlet (Store 2) wishes to conduct a similar survey in his store. The manager does not have access to the information generated by the manager of Store 1. Answer the following questions: c. What sample size is needed to have 95% condence of estimating the population mean amount spent in this store to within +/- $1.50 if the standard deviation is estimated to be $10? d. How many customers need to be selected to have 90% condence of estimating the population proportion of customers who own only a cat to within +/- 0.045? e. Based on your answers to (c) and (d), how large a sample should the manager take
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