Find interval that estimate contains one-day travel expenses

Assignment Help Basic Statistics

Reference no: EM13132621

Need to prepare a Business Report of approximately 1500 words and, in addition, approximately 2-3 pages of MegaStat output from MS Excel, including numbers, tables, and pictures from the following case study:

The International Business Travel Expense Case

Suppose that a large international corporation wishes to obtain its own benchmark for one-day travel expenses in Moscow. To do this, it records teh one-day travel expenses for a random sample of 35 executives visiting Moscow. The mean and the standard deviation of these expenses are calculated to be x = $538 and s = $41. Furthermore, a histogram shows that the expenses are approximiately normally distributed.

a. Find an interval that we estimate contains 99.73 percent of all one-day travel expenses in Moscow.
b. If an executive submits an expense of $720 for a one-day stay in Moscow, should this expense be considered unusually high? Why or why not?

Reference no: EM13132621

Questions Cloud

Essay on violent video games affects children''s behavior : essay on Violent Video games affects children's behavior

Person or movement do you believe : In your lifetime, what event, situation, person or movement do you believe had the most significant impact on society or substantially changed the course of the world

Prepare a report about leased circuits : COMP6011 Data Communications - Prepare a report about Leased circuits

Find interval that estimate contains one-day travel expenses : If an executive submits an expense of $720 for a one-day stay in Moscow, should this expense be considered unusually high? Why or why not?

Resources in the center for writing excellence : Other than WritePointSM, what three resources in the Center for Writing Excellence do you find useful? Describe these resources, and explain how you might use them in future courses. Consider looking at the Service, Writing Resources, and Useful L..

Vagueness and ambiguity impact : How does vagueness and ambiguity impact an argument or claim? Be specific and share an original example of an ambiguous or vague claim.

How many grams of acetic acid are in vinegar : If 4.00 mL of vinegar needs 41.5 mL of 0.150 M NaOH to reach the equivalence point in a titration, how many grams of acetic acid are in a 1.80 qt sample of this vinegar?

Why would you select the percentage of sales method : Why would you select the percentage of sales method for calculating doubtful accounts instead of the percentage of receivables method?

User Account

All Pages