1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Marina86 [1]
3 years ago
15

Suppose that a manager is interested in estimating the average amount of money customers spend in her store. After sampling 36 t

ransactions at random, she found that the average amount spent was $ 35.25 . She then computed a 95 % confidence interval to be between $ 31.84 and $ 38.66 .
1. Which statement gives a valid interpretation of the interval?
O The store manager is 95 % confident that the average amount spent by the 36 sampled customers is between $ 31.84 and $ 38.66 .
O There is a 95 % chance that the mean amount spent by all customers is between $ 31.84 and $ 38.66 .
O The store manager is 95 % confident that the average amount spent by all customers is between $ 31.84 and $ 38.66 .
O There is a 95 % chance that a randomly selected customer will spend between $ 31.84 and $ 38.66 .
Business
1 answer:
densk [106]3 years ago
4 0

Answer:

The store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66.

Explanation:

In statistics, a confidence interval is the probability that the parameter of a population lies between two set of values when a random sample of the population is drawn for a specific percentage of times. This means that the confidence interval is formed about the whole population not the sample from which it is calculated.

The probabilities of a confidence interval can take any number, but 95% and 99% confidence level that are usually used.

It should be noted that, for example, 95% confidence level implies that there is a 95% chance that the true mean of the population lies within the calculated confidence interval.

Therefore, the statement which gives a valid interpretation of the interval in the question is the first one which states that "the store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66."

I wish you the best.

You might be interested in
Prepare the issuer's journal entry for each of the following separate transactions. On March 1, Atlantic Co. issues 44,500 share
steposvetlana [31]

Answer and Explanation:

The journal entries are shown below;

On March 1

Cash A/c $303,500

     To Common Stock $3 Par value (44,500 × $3) $133,500

       To Paid in capital in excess of par value $170,000

(Being the common stock issued is recorded)

On April 1

Cash $74,000

      To Common Stock, no par value $74,000

(Being the common stock issued is recorded)

On April 6

Inventory $43,000

Machinery $155,000

 To Common Stock (2,400 ×$20) $48,000

 To Notes payable $93,000

  To Paid in capital in excess of par value $57,000

(Being the shares are issued)

3 0
3 years ago
Miao Clinic uses client-visits as its measure of activity. During July, the clinic budgeted for 3,000 client-visits, but its act
ExtremeBDS [4]
Mayonnaise is delicious, agree? Yes indeed.
7 0
3 years ago
governments that are interested in minimizing the efficiency costs of taxation should only tax goods where
lisov135 [29]

Answer:

Governments that are interested in minimizing the efficiency costs of taxation should only tax goods where demand or supply, or both, are relatively inelastic.

Explanation:

hope this helps

6 0
3 years ago
Read 2 more answers
4. Each year, Holly's Best Salad Dressing, Inc. (HBSD) purchases 50,000 gallons of extra virgin olive oil. Ordering costs are $1
Norma-Jean [14]

Answer:

HBSD should take the discount because it will

lead to as savings of  $1,120.00  

Explanation:

step 1

<em>Determine the the inventory cost of EOQ</em>

EOQ =√ (2× Co× D)/Ch

= √(2× 100× 50,000)/ 80% × $0.50

= 5,000 units

Inventory cost = Purchase cost + Ordering cost + carrying cost

                                                                     $

Purchase cost = 50,000 × $0.50   =   25,000.00

Ordering cost   = (50,000/5000)× 100  = 1,000

carrying cost  =  (5000/2) × $0.50 × 80% = <u>1,000</u>

Total cost                                                   <u>27,000.</u>

Step 2

<em>Determine the inventory cost for order of 10,000 gallons</em>

Order of 10,000 gallons

Purchase cost = $(0.50-0.03) × 50,000      = 23,500.

Ordering cost = (50,000/10,000) × 100   =          500

Carrying cost = (10000/2) × $(0.50-0.03)× 80%  =<u>1880</u>

Total cost                                                          <u>   25,880.</u>

Step 3

<em>Compare the cost under the two options</em>

HBSD should take the discount because it will

lead to as savings of  $1,120.00   i.e (927,000 - 25,880.)

                   

6 0
3 years ago
nvestment from abroad Select one: a. is a way for poor countries to learn the state-of-the-art technologies developed and used i
spin [16.1K]

The correct option is (d); All of the above are correct.

<h3>What is meant by investment from abroad?</h3>

A foreign direct investment (FDI) occurs when a business or investor from outside the country buys a stake in the company.

The phrase typically refers to a commercial decision to buy a sizable portion of a foreign company or to buy it altogether in order to expand its operations to a new area.

Role of the foreign investment for a country are-

  • FDI enables the transfer of technology that is not possible through financial investments or trade in products and services, notably in the form of new types of capital inputs.
  • The domestic input market can become more competitive with FDI as well.
  • In contrast to heavily regulated economies, open economies provide a qualified workforce and high growth prospects for investors.
  • There is a long-term commitment involved because there are no short-term capital gains goals.
  • FDI increases the manufacturing and service sectors, which leads to job growth and lower unemployment rates in the nation.
  • Increased employment increases earnings and gives the populace greater purchasing power, which strengthens a nation's overall economy.

To know more about the primary purpose of foreign direct investment, here

brainly.com/question/14525125

#SPJ4

I understand the question you are looking for-

Investment from abroad Select one: a. is a way for poor countries to learn the state-of-the-art technologies developed and used in richer countries. b. is viewed by economists as a way to increase growth. c. often requires removing restrictions that governments have imposed on foreign ownership of domestic capital. d. All of the above are correct.

5 0
1 year ago
Other questions:
  • You are 50 years old and proud of having $75,000 invested in a mutual fund earning an impressive 17% per year. you want to retir
    13·1 answer
  • Cyclical unemployment is the fluctuating unemployment over the business cycle that increases during​ _____ and decreases during​
    13·2 answers
  • Many small businesses choose to outsource their payroll activities to firms that specialize in providing payroll services. Dolor
    5·1 answer
  • The first year of operations for Grayton Company is 2017. Given this information for 2017:_______. Pretax book income $90,000Est
    6·1 answer
  • Co. is considering acquiring a manufacturing plant. The purchase price is $ 1 comma 100 comma 000. The owners believe the plant
    15·1 answer
  • Ricardo reprimanded five of his employees for coming to work drunk after a lunch outing. The next week, Ricardo fired another em
    14·1 answer
  • An informal session of 6 to 10 customers in which a moderator asks their opinions about a firm's and its competitors' products,
    11·1 answer
  • Which of these boxes of cereal has the LOWEST unit price?
    8·1 answer
  • Brie has a really busy day. She has several tasks to do and she needs to get them all done by the end of the day. She’s worried
    6·1 answer
  • when a company will reduce the number of projects they have to manage internally to only core projects and send noncritical proj
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!