Confidence interval for the average increase

Reference no: EM131372601

Fifty years after the birth of duty-free shopping at international airports and border-crossing facilities, the European commission announced plans to end this form of business.

A study by Cranfield University was carried out to estimate the average percentage rise in airline landing charges that would result as airlines try to make up for the loss of on-board duty-free shopping revenues.

The study found the average increase to be 60%. If this was based on a random sample of 22 international flights and the standard deviation of increase was 25%, give a 90% confidence interval for the average increase.

Reference no: EM131372601

Questions Cloud

Horizontal marketing system and vertical marketing system : Define the following concept and name an actual or hypothetical example of each: Horizontal marketing system, Vertical marketing system

Discuss specific factors contributing to the social issue : Discuss specific factors contributing to the social issue. Consider environmental, social, political, and economic reasons that have attempted to explain why this issue persists.

What determines the capacity for both bricks and clicks : The Internet has drastically changed the way in which customers interact with businesses. Although the customer interface has changed, operations management remains a crucial element in the success of Internet retailing. What determines the capacity ..

Confidence interval for the proportion of executives : If the survey consisted of a random sample of 40 executives, give a 95% confidence interval for the proportion of executives less willing to sacrifice their family lifestyle.

Confidence interval for the average increase : The study found the average increase to be 60%. If this was based on a random sample of 22 international flights and the standard deviation of increase was 25%, give a 90% confidence interval for the average increase.

Identify the central concern in various regional security : Identify the central concern or challenge in the various regional security organizations encountered thus far in the course, with regard to the likelihood of success or failure. Explain your reasons using examples from your readings.

Describing the main components and users of the system : Decompose the application using data flow diagrams, system architecture diagrams, and a table describing the main components and users of the system

Confidence interval for the percentage of all traders : If the test run of trading rooms using the new system revealed that 80% of the traders preferred the decimal system and the sample size was 200, give a 95% confidence interval for the percentage of all traders who will prefer the new system.

Building your own high performance subculture : One of the most misunderstood and yet exciting research findings regarding culture concerns subcultures. Specifically, research has found that the cultural variance within companies is often as great or greater than that between companies. What are t..

User Account

All Pages