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
Law Incorporation [45]
3 years ago
12

The mean cost of a meal for two in a mid-range restaurant in Tokyo is $40 (Numbeo website, December 14, 2014). How do prices for

comparable meals in Hong Kong compare? The DATAfile HongKongMeals contains the costs for a sample of 42 recent meals for two in Hong Kong mid-range restaurants. Click on the datafile logo to reference the data.a. With 95% confidence, what is the margin of error (to 2 decimals)?b. What is the 95% confidence interval estimate of the population mean (to 2 decimals)? ( , )c. How do prices for meals for two in mid-range restaurants in Hong Kong compare to prices for comparable meals in Tokyo restaurants?
Business
1 answer:
natali 33 [55]3 years ago
3 0

Answer:

a. 2.13. b. (30.53, 34.79). c. The mean prices for two in mid-range restaurants in Hong Kong are relatively less than those in Tokyo restaurants.

Explanation:

The size of the sample is 42 and the mean of the sample is ∑x_{i}n = 32.66 and the standard deviation of the sample (σ) is √[∑(x_{i}-μ)^2 - 1] = √46.6092 = 6.8271

a. α = 1 - (95/100) = 0.05; α/2 = 0.025; the degree of freedom = n-1 = 42-1 = 41; tα/2 = t0.025 = 2.02. Thus, the error margin = (tα/2)*(σ/√n) = 2.02*(6.83/√42) = 2.1279

b. Lower level limit = 32.66 - 2.1279 = 30.5321; Upper level limit = 32.66+2.1279 = 34.7879. The interval estimate = (mean± margin of error) = (30.53, 34.79).

c. The mean prices for two in mid-range restaurants in Hong Kong are relatively less than those in Tokyo restaurants.

You might be interested in
4. Which of the following financial statements is the main tool for figuring out how much
kolezko [41]
A , cash flow statement !
6 0
3 years ago
Read 2 more answers
The amount of tattling has suddenly increased in the school-age group at the day care facility where you work. Staff and childre
MissTica
The best theory which could be used in telling us why there is more and more tattling in the school-age group would most likely be either behavioral or cognitive - so A or B. However, it's most likely that the correct answer would be A as behavioral theories of behavior seem to be more effective for discovering such things. 
7 0
3 years ago
Mr.​ Beautiful, an organization that sells weight training​sets, has an ordering cost of ​$45 for the​ BB-1 set​ (BB-1 stands fo
andrew-mc [135]

Answer:

839.216

Explanation:

For we to calculate the total cost, we use the following

Total Cost = Carrying Cost + Stock out Cost

= 0+ $45 x 4 x [.2(100-80)+.2(120-80)+.1(140-80)] = 1368*

Now

Total Cost = Carrying Cost + stock out Cost

Total cost= [10 x 20]+40 x 4 x [.2990-50-20)+.1(110-50-20)]

Total cost = 200-1115.216+4

Total cost = 839.216

8 0
2 years ago
Diane heads an event management company called Venus Inc. The company encourages an innovative and creative approach to work. Di
UkoKoshka [18]

Answer:

c. Diane should target a vision for a desired future.

Explanation:

  • As Diane heads the event management of the company she can create a creative work approach for the company by the creation of a future of planned actions.  
  • <u>And can target the vision statement of the company that is more innovative and concrete. Thereby making changes in the future mission of the company.</u>
3 0
3 years ago
The global air-traffic control system and the world's major stock markets are examples of what kind of systems?
m_a_m_a [10]

Answer:

its probably interconnected

6 0
2 years ago
Other questions:
  • Western Company is preparing a cash budget for June. The company has $11,200 in cash at the beginning of June and anticipates $3
    15·1 answer
  • Ajax takes advantage of ________ scripting to make applications more responsive.
    15·1 answer
  • HURRY HURRY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    14·2 answers
  • Full meaning of NeRsA
    15·2 answers
  • The daily grind operates a chain of coffee shops. the company pays rent of $20,000 per year for each shop. supplies (napkins, ba
    9·1 answer
  • A store will give you a 2% discount on the cost of your purchase if you pay cash today. Otherwise, you will be billed the full p
    12·1 answer
  • Match each of the following types of evaluation with one of the listed users of accounting information. (Note: There might be us
    13·1 answer
  • Which of the following could be the price elasticity of demand for a good for which an increase in price would increase total re
    12·1 answer
  • Royce Co. acquired 60% of Park Co. for $420,000 on December 31, 2019 when Park's book value was $560,000. The Royce stock was no
    10·1 answer
  • Max wants to become a dentist. He knows he needs to keep his GPA high to reach this goal. Which of the following is a mid-term g
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!