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Average daily turnover for a sample

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1. Significance level, if a survey found that 29 out of a random sample of 320 of A large manufacturing company claims that less than 10% of its customers make a complaint about the company's products. Test this claim at the 10% the company's customers made a complaint about the company's products.

2. The CEO of a large financial institution claims that, on average, their clients invest more than R160 000 per year in a particular portfolio. Test this claim at the 5% significance level if it was found that a sample of 28 clients invested an average of R155 000 in the portfolio over the last year, with a standard deviation of R20 000.

3. A shop owner claims that on average, his shop has a daily turnover of R55000. Test this claim at the 1% significance level, if the average daily turnover for a sample of 68 days was R57750. Assume a population standard deviation of R3250.

Reference no: EM133039999

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