Annual inventory turnover rate

Reference no: EM13990309

The mean annual inventory turnover rate of a random sample of 24 convenience stores was found to be 3.8 times per annum. Assume that the population standard deviation is 0.6 and that the annual inventory turnover rate amongst convenience stores is normally distributed.

(a) Calculate the actual average annual inventory turnover rate, with 90% confidence, for all convenience stores. (Use the z-table.) Interpret the result.

(b) Compute (a) using Excel's NORMSINV formula to find the z-value.

Reference no: EM13990309

Questions Cloud

State the advantages and disadvantages of the minumum wage : State both of the advantages and disadvantages of the minumum wage. do you support the raise of minimum wage or not? why? only one page.

Discuss how adipocyte differentiation is regulated : Discuss how adipocyte differentiation is regulated by multiple signal transduction pathways

Small cellular structures : Small cellular structures (ribosomes, mitochondria, & others) that perform specific metabolic functions for the cell as a whole What is the function of the heart, how does it pump blood?

Doubling the radius of a blood vessel : Doubling the radius of a blood vessel will (increase/decrease)[A] the resistance by a factor of (two/four/eight/sixteen)[B] and (increase/decrease)[C] the flow of blood.

Annual inventory turnover rate : The mean annual inventory turnover rate of a random sample of 24 convenience stores was found to be 3.8 times per annum. Assume that the population standard deviation is 0.6 and that the annual inventory turnover rate amongst convenience stores is..

Devise a detailed description of the structure : Devise a detailed description of the structure and functions of each organelle in a typical neuron. Distinguish the locations and functions of the four neuroglial cells in CNS and the two neuroglial cells in PNS.Categorize the structure of the spinal..

Confidence interval estimate of the true population : (a) Set up a 99% confidence interval estimate of the true population average amount of paint included in a five-litre can. (Use the z-table.) (b) Based on the results of (a), do you think that the store owner has a right to complain to the manufact..

Anatomical and functional divisions of the nervous system : Evaluate and distinguish between the anatomical and functional divisions of the nervous system.

Although marcus provides most of their support : Marcus maintains a household in which his 18-year old daughter and her husband live. Although Marcus provides most of their support, he does not claim them as dependents because they file a joint return. Is Marcus correct? Explain (this is a tax ques..

User Account

All Pages