A sample survey to estimate the fast-food market

Assignment Help Business Economics

Reference no: EM13896758

A sample survey to estimate the fast-food market in a large city was kept small enough to allow repeated follow-up. The high response rate meant that the sample was essentially random. The survey recorded the number of fast-food meals eaten by each person in the previous 7 days, and the average is 0.82 with standard deviation of 0.48. Sample size of 180. Calculate a 95% confidence interval for the mean of the whole population of this city. You may assume a two-tailed test.

Reference no: EM13896758

Questions Cloud

Why might anti-gouging laws not increase social welfare : Why might anti-gouging laws not increase social welfare, or at least why might they lead to consequences which are unintended by the government?

What is the bertand-nash equilibrium outcome : Suppose firm 1 and firm 2 each produce the same product and face a market demand curve described by what is the Bertand-Nash equilibrium outcome?

Question regarding the expressions of uncertainty : The first scene (like many other scenes in this play) is full of expressions of uncertainty. What are some of these uncertainties? The Ghost first appear at 1.1.43. Does his appearance surprise us or have we been prepared for it? Or is it there bo..

How much was the inventory carrying cost for the year : Akers has determined that its inventory carrying cost is 15 percent annually. What was the inventory turnover rate? How much was the inventory carrying cost for the year?

A sample survey to estimate the fast-food market : A sample survey to estimate the fast-food market in a large city was kept small enough to allow repeated follow-up. The high response rate meant that the sample was essentially random. Calculate a 95% confidence interval for the mean of the whole pop..

Deposit withdrawals on demand-make profits for shareholders : Briefly discuss the risks facing these institutions within the context of how these institutions can have such a wide variety of assets and liabilities and still maintain their ability to make illiquid loans, meet deposit withdrawals on demand, and m..

Analyze a business strategy and supporting business plan : Analyze a business strategy and supporting business plan for a small business concept

Importance of being earnest : Provide a feminist reading of the play "The Importance of Being Earnest"" by Oscar Wilde:

Demonstrate leadership or management skills : Depict how women in film/television, the public sphere, and/or popular culture portray leadership and or management skills and what characteristics, behaviors, and/or traits do the characters exhibit that demonstrate their leadership or management s..

User Account

All Pages