Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 8 of 8 Hint(s) Check My Work According to the University of Nevada Center for Logistics Management, 6% of all merchandise sold in

image text in transcribedimage text in transcribedimage text in transcribed

Question 8 of 8 Hint(s) Check My Work According to the University of Nevada Center for Logistics Management, 6% of all merchandise sold in the United States gets returned. A Houston department store sampled 80 items sold in January and found that 12 of the items were returned. (a) Construct a point estimate of the proportion of items returned for the population of sales transactions at the Houston store. If required, round your answer to three decimal places. 0.15 (b) Construct a 95% confidence interval for the porportion of returns at the Houston store. If required, round your answer to three decimal places. 0.2655 to 0.34 (c) Is the proportion of returns at the Houston store significantly different from the returns for the nation as a whole? Provide statistical support for your answer. We reject the null hypothesis. We can different than the U.S. national return rate. Hide Feedback Partially Correct conclude that the return rate for the Houston store is Hint(s) Check My Work

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

Step: 3

blur-text-image

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

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

7th Edition

978-0-538-4527, 0-538-45274-9, 978-1133161646

Students also viewed these Accounting questions

Question

Differentiate between intelligence testing and achievement testing.

Answered: 1 week ago