Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The branch manager of an outlet store (Store 1) of a nationwide chain of pet supply stores wants to study the characteristics of her customers.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
The branch manager of an outlet store (Store 1) of a nationwide chain of pet supply stores wants to study the 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 accompanying results are from a sample of 74 customers. Complete parts (a) through (e) below. i Click the icon to view the Store 1 sample results. - X Store 1 Sample Results Amount of money spent: X = $19.93, S = $8.69. Forty-five customers own only a dog. Twenty-one customers own only a cat. Eight customers own more than one dog and/or cat. Print Done a. Construct a 95% confidence interval estimate for the population mean amount spent in the pet supply store. SHS (Round to two decimal places as needed.) b. Construct a 99% confidence interval estimate for the population proportion of customers who own only a cat. STS (Round to four decimal places as needed.) c. The branch manager of another 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. What sample size is needed to have 95% confidence of estimating the population mean amount spent in this store to within + $2.50 if the standard deviation is estimated to be $11? (Type a whole number.) d. How many customers need to be selected to have 99% confidence of estimating the population proportion of customers who own only a cat to within + 0.035?\fWhy is the sample size needed to determine the proportion smaller when the population proportion is 0.20 than when the population proportion is 0.50? . . . Choose the correct answer below. O A. The critical value Za/2 is greater when It = 0.5. O B. The product It(1 - It) is a minimum when it = 0.5. O C. The product It(1 - It) is a maximum when it = 0.5. O D. The difference (1 - It) is greater when it = 0.2.An advertising executive wants to estimate the mean amount of time that consumers spend with digital media daily. From past studies, the standard deviation is estimated as 50 minutes. a. What sample size is needed if the executive wants to be 90% confident of being correct to within # 3 minutes? b. If 95% confidence is desired, how many consumers need to be selected? a. A sample size of consumers is needed. (Round up to the nearest integer.) b. If 95% confidence is desired, consumers need to be selected. (Round up to the nearest integer.)

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

More Books

Students also viewed these Mathematics questions

Question

1. How were jobs actually saved by Sodexhos decision to outsource?

Answered: 1 week ago