Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Small Business (https://www.askmehelpdesk.com/forumdisplay.php?f=298)
-   -   Business statistics queastion, need help please (https://www.askmehelpdesk.com/showthread.php?t=791313)

  • May 4, 2014, 07:50 PM
    toula987
    Business statistics queastion, need help please
    QUESTION 1
    :
    A recent survey of __60___ guests at the Backpackers Paradise Hotel gave a sample average daily food

    expenditure of x = $_43____ with a sample standard deviation, s = $___11__.


    a. Calculate a 95% confidence interval for the unknown population mean, μ.


    b. What sample size would be required to be 95% sure of estimating the unknown population mean to

    within ±$5?

    c. A census of guests 2 years ago gave a

    population mean expenditure of $_35____. Test, at the 5% level

    of significance, whether your data supports the hypothesis of a significant increase in the average daily food expenditure over the 2 year period. [Hint:This is a 1-sample test]
  • May 4, 2014, 07:53 PM
    ma0641
    Needing help and wanting homework answers are two different things. Show us your attempt to answer the question.

  • All times are GMT -7. The time now is 12:06 PM.