1. The salon has a mean number of 324 customers on a weekly basis. 180 of...
1. The salon has a mean number of 324 customers on a weekly basis. 180 of the customers are brand new every week. Using a 0.5 level of confidence, can you conclude that the salon has less customers every week?
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1. The salon has a mean number of 324 customers on a weekly
basis. 180 of...
Question 1 A study was conducted to estimate μ, the mean number of weekly hours that...
Question 1 A study was conducted to estimate μ, the mean number of weekly hours that U.S. adults use computers at home. Suppose a random sample of 81 U.S. adults gives a mean weekly computer usage time of 8.5 hours and that from prior studies, the population standard deviation is assumed to be σ = 3.6 hours. A similar study conducted a year earlier estimated that μ, the mean number of weekly hours that U.S. adults use computers at home,...
A store manager wants to estimate the mean number of customers to survey to know their...
A store manager wants to estimate the mean number of customers to survey to know their satisfaction level about their shopping experience. The estimated margin of error is desired to be 1 with a 95% level of confidence. A pilot study provided a standard deviation of 2. How many customers should be sampled?
A small hair salon in Denver, Colorado, averages about 62 customers on weekdays with a standard...
A small hair salon in Denver, Colorado, averages about 62 customers on weekdays with a standard deviation of 16. It is safe to assume that the underlying distribution is normal. In an attempt to increase the number of weekday customers, the manager offers a $3 discount on 9 consecutive weekdays. She reports that her strategy has worked since the sample mean of customers during this 9 weekday period jumps to 74. Use Table 1. a. What is the probability to...
1. Recall that a bank manager has developed a new system to reduce the time customers...
1. Recall that a bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business hours. The mean waiting time during peak business hours under the current system is roughly 9 to 10 minutes. The bank manager hopes that the new system will have a mean waiting time that is less than six minutes. The mean of the sample of 100 bank customer waiting times in Table 1.9 is...
A small hair salon in Denver, Colorado, averages about 30 customers on weekdays with a standard...
A small hair salon in Denver, Colorado, averages about 30 customers on weekdays with a standard deviation of 6. It is safe to assume that the underlying distribution is normal. In an attempt to increase the number of weekday customers, the manager offers a $2 discount on 5 consecutive weekdays. She reports that her strategy has worked since the sample mean of customers during this 5 weekday period jumps to 35. Use Table 1. a. What is the probability to...
(1 point) You are interested in finding out the mean number of customers entering a 24-hour convenience store every 10-...
(1 point) You are interested in finding out the mean number of customers entering a 24-hour convenience store every 10-minutes. You suspect this can be modeled by the Poisson distribution with a a mean of = 3.59 customers. You are to randomly pick n = 57 10-minute time frames, and observe the number of customers who enter the convenience store in each. After which, you are to average the 57 counts you have. That is, compute the value of X...
Dave's Auto Supply custom mixes paint for its customers. The shop performs a weekly inventory count...
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A retailer sells four items i = 1, 2, 3, 4. Their weekly demand characteristics are...
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At Western University the historical mean of scholarship examination scores for freshman applications is 920. A...
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The Period is 3 for Forecasting 1. A plot of the number of customers at Aceite...
The Period is 3 for Forecasting
1. A plot of the number of customers at Aceite Lube Center shows the number of weekly customers is not subject to a trend or season. Using the data below a) Develop a forecast using simple moving average with 3 months b) Develop a forecast using weighted moving average with n -3, w 0.5, W2 0.4, W3 0.1 c) Develop an exponential smoothing forecast using F 190 and a 0.65 MonthCustomersMonth September 189 February...
1. Recall that a bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business hours. The mean waiting time during peak business hours under the current system is roughly 9 to 10 minutes. The bank manager hopes that the new system will have a mean waiting time that is less than six minutes. The mean of the sample of 100 bank customer waiting times in Table 1.9 is...
(1 point) You are interested in finding out the mean number of customers entering a 24-hour convenience store every 10-minutes. You suspect this can be modeled by the Poisson distribution with a a mean of = 3.59 customers. You are to randomly pick n = 57 10-minute time frames, and observe the number of customers who enter the convenience store in each. After which, you are to average the 57 counts you have. That is, compute the value of X...
At Western University the historical mean of scholarship examination scores for freshman applications is 920. A historical population standard deviation o = 180 is assumed known. Each year, the assistant dean uses a sample of applications to determine whether the mean examination score for the new freshman applications has changed. a. State the hypotheses. Ho: u Select Ha: u Select b. What is the 95% confidence interval estimate of the population mean examination score if a sample of 200 applications...
The Period is 3 for Forecasting
1. A plot of the number of customers at Aceite Lube Center shows the number of weekly customers is not subject to a trend or season. Using the data below a) Develop a forecast using simple moving average with 3 months b) Develop a forecast using weighted moving average with n -3, w 0.5, W2 0.4, W3 0.1 c) Develop an exponential smoothing forecast using F 190 and a 0.65 MonthCustomersMonth September 189 February...
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