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djyliett [7]
2 years ago
6

A sample of 40 individuals at a shopping mall found that the mean number of visits to a restaurant per week was 2.88 with a stan

dard deviation of 1.59. Find a 99% confidence interval for the mean num-ber of restaurant visits. Use the appropriate formula and verify your result using the Confidence Intervals workbook.
Business
1 answer:
Katarina [22]2 years ago
3 0

Answer:

The confidence interval is between 2.23 and 3.53

Explanation:

The confidence interval (C) = 99% = 0.99

α = 1 - C = 1 - 0.99 = 0.01

α/2 = 0.01/2 = 0.005

The z score of α/2 corresponds to the z score of 0.495 (0.5 - 0.005) which is 2.576

The margin of error (E) is given as:

E=z_{\frac{\alpha}{2} }*\frac{\sigma}{\sqrt{n} }\\\\where\ n=sample\ size,\sigma=standard\ deviation\\\\Given\ that\ \sigma=1.59,n=40,z_{\frac{\alpha}{2} }=2.576\ hence: \\\\E=2.576*\frac{1.59}{\sqrt{40} } =0.65

The confidence interval = mean ± margin of error = 2.88 ± 0.65 = (2.23, 3.53)

The confidence interval is between 2.23 and 3.53

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The Akron Slugger Company produces various types of wooden baseball bats. It has calculated the average cost per unit of a produ
Naddika [18.5K]

Answer:

\arge\boxed{\large\boxed{\$ 117,788}}

Explanation:

Assume the <em>cost</em> equation to be:

                Cost(x)=Fixed\text{ }costs+Variable\text{ }costs\\\\Cost(x)=A+Bx

Where x is the number of units (wooden baseball bats) produced.

The <em>average cost per unit of production level</em> is the total cost divided by the number of units produced:

              Average\text{ }cost(x)=Cost(x)/x\\\\Average\text{ }cost(x)=(A+Bx)/x\\

You are given that the <em>average cost per unit of a production level of 7,700 bats is $14</em>, then:

             14=(A+7,700B)/7,700

You are also given that the <em>fixed costs</em> are <em>$22,500</em>, thus A = 22,500. Hence, you can substitute the value of A in the previous equation and find B:

              14=(22,500+7,700B)/7,700\\\\14\times 7,700=22,500+7,700B\\\\107,800-22,500=7,700B\\\\85,300/7,700=B\\\\B=11.08

Now you can complete the cost equation:

             

               Cost(x)=\$ 22,500+11.08x

And to predict the total costs for 8,600 bats you must subsitute x with 8,600 in the previous equation:

             Cost(8,600)=\$ 22,500+11.08(8,600)=\$ 117,788

5 0
3 years ago
4. If your checking account's balance is
levacccp [35]
A. $2164.89
Basically just subtract, 3,678.89-1514 = 2,164.89
6 0
3 years ago
Two types of cars (Deluxe and Limited) were produced by a car manufacturer last year. Quantities sold, price per unit, and labor
kodGreya [7K]

Answer:

The labor productivity  for Deluxe and Limited cars are as follows:

          Units/Hour dollars

Deluxe Car  0.13   103.64  

Limited Car  0.21   156.54  

Explanation:

It is noteworthy that labor productivity in terms of units/hour does not put into consideration  quality of product, selling prices and skill level of the manufacturing workers. It would extremely  difficult for supervisors to find  out the workers that are better in terms of unit/hour.

Find attached spreadsheet with detailed calculation and formulas used.

Download xlsx
3 0
3 years ago
Suppose total deposits in the first bank of commerce are $200,000 and required reserves are $10,000. based on this information,
Bas_tet [7]
0.05

To find the required reserve ratio, we need to know the total deposits and the required reserves amount. 

Next, we divide the required reserve amount by the total deposits. 
$10,000 / $200,000 = 0.05

The 0.05 is the required reserve ratio for First Bank of Commerce.  
4 0
3 years ago
A stock has an expected return of 16.1 percent, the risk-free rate is 6.45 percent, and the market risk premium is 7.2 percent.
DiKsa [7]

Answer:

the beta of the stock is 1.34

Explanation:

The calculation of the beta of the stock should be

As we know that

Expected rate of return = Risk free rate + beta × market risk premium

16.1 = 6.45% + beta × 7.2%

16.1% - 6.45% = beta × 7.2%

9.65% = beta × 7.2%

So, the beta should be

= 9.65% ÷ 7.2%

= 1.34

Hence, the beta of the stock is 1.34

4 0
3 years ago
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