Population standard deviation by level of significance

Reference no: EM1319708

Q1) One of factors which a company will utilize in finding whether it will locate a new facility in a community is status of the real estate market. Managers think that important measure of real estate market is average length of time that homes stay on market before selling. They think that if mean time on market is less than 45 days, real estate market is favourable. To test this in particular area, a random sample of n = 100 homes that sold in past six months was selected. Mean for this sample was 40 days. It is believed that population standard deviation is 15 days. If test is conducted using 0.05 level of significance, what conclusion must be reached?

Reference no: EM1319708

Questions Cloud

Sampling error to calculate sample mean : Given this information, what would sampling error be if sample including seven values in top row were used to calculate sample mean?

Gross margin analysis and point-of-sale scanners : Jon Johnson an accountant with local CPA firm, has just completed an inventory count for Mom & Pop's Groceries. Mom and Pop provide audited financial statements to their bank annually, and part of that audit requires an inventory count.

Using binomial distribution to calculate probability : Use the binomial distribution formula to calculate the probability that:

Calculating cost of goods sold and ending inventory : Stan's Wholesale buys canned tomatoes from canneries and sells them to retail markets. During August 2009, Stan's inventory records showed the following: Calculate the cost of goods sold and ending inventory using the following cost flow alternati..

Population standard deviation by level of significance : It is believed that population standard deviation is 15 days. If test is conducted using 0.05 level of significance, what conclusion must be reached?

Schedule of noncash investing and financing activities : Prepare the statement of cash flows for the year ended December 31, 20X6, using the direct method, and include a schedule of noncash investing and financing activities if necessary.

Defective syringes in a random sample : Make a histogram showing the probabilties of r = 0, 1, 2, 3, 4, 5, 6, 7 or 8 defective syringes in a random sample of 8 syringes.

Finding percent of variation in starting salaries : Based on this sample information find out what percent of variation in starting salaries is described by GPA, and find out the equation that would forecast salary from GPA. Give a scatter plot.

Journalization of below events : Gilbert Corporation has an opportunity to acquire a company which produces one of the parts it uses in its manufacturing process. After careful analysis, Gilbert has decided to raise the necessary capital for the acquisition by issuing $3,000,000 ..

User Account

All Pages