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Oksanka [162]
3 years ago
14

The manager of a major retail store has taken a random sample of 25 customers. The average sale was $52.50. The population stand

ard deviation is known to be $6.10. The manager would like to determine whether or not the mean sales by all customers are significantly more than $50. What is the p-value for the test
Business
1 answer:
Anna35 [415]3 years ago
7 0

Answer:P value = 1 - 0.9793 = 0.0207

Explanation:

we can use Z value and normal distribution to find P value. P value is the area of beyond the value of Z value

sample mean (x.bar) = $52.20

Population mean (U) = $50

Sample Standard deviation (Sd) =$ 6.10

sample (n) = 25

Z =\frac{(x.bar - U)}{Sd/\sqrt{n} } =\frac{52.50 - 50}{6.10/\sqrt{25} }

Z = 2.50/1.22 = 2.049280328 = 2.049

area (normal distribution table) = 0.9793

P value = 1 - 0.9793 = 0.0207

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The Georgia fair business practices act
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GuDViN [60]

Answer:

Quota rent

Explanation:

When voluntary export restraints (VER) are set up and / or import quotas are enforced, the extra profit that domestic producers make because the supply is artificially limited is called quota rent. Quota rents are a type of economic inefficiency since they produce more losses than benefits. Society as a whole generally losses while a group of favored companies make huge profits.

For example, sugar imports are limited in the US, so domestic sugar producers are able to sell sugar at much higher prices than regular international prices. That artificial extra profit earned by sugar companies in the US can be classified as quota rent.

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3 years ago
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Answer:

$ 49,640

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The question is asking for PLANNING BUDGET

Planning Budget does not in anyway mean flexible budget.

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6 0
3 years ago
Reece is trying to increase the number of products he sells every week so he will get a promotion this year. What are accurate w
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Answer:

intermediate goal

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Explanation:

A goal is a desired result am individual wants to achieve in the future. Goals are usually time bound, that is they are meant to be achieved in a given time frame.

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With regards to duration goals can be short term, intermediate, or long term.

His goal of increasing weekly sales is an intermediate one.

Career goals are those that are measured by level of achievement on one's job. Reece is looking at getting a promotion in this year.

5 0
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3 0
3 years ago
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