Probability that mean fee for sample of customers is less

Assignment Help Basic Statistics
Reference no: EM13123536

In 2005, the average fee for H&R Block Executive Tax Service was $118.96. Assume that the standard deviation of the fees was $50.00 but that we have no idea Regarding the shape of the population distribution. What is the probability that the mean fee for a sample of 30 customers was less than $125?

Reference no: EM13123536

Questions Cloud

Estimating the company future revenues : Assume you are reviewing a company's annual report. In addition to actual revenues reported in the income statement, what other information disclosed would give you help in estimating this company's future revenues?
Draw marginal revenue and marginal cost curves : Derive, and show on a table, Sony's total and marginal revenue for all possible output levels. From this, draw Sony's demand, marginal revenue and marginal cost curves
Determining linear function and distance : If it is 300 miles from Chicago to St. Louis in a car traveling a constant speed of 60 mph, how do I write a linear function that expresses the distance to be traveled to reach St. Louis, s, as a function of time, t?
Explain how do small companies that have minimal accounting : From an accountant’s perspective, separation of duties is self-explanatory. Explain how do small companies that have minimal accounting staff deal with this issue? Explain how might you, as owner of a small business, ensure the integrity of your f..
Probability that mean fee for sample of customers is less : We have no idea Regarding the shape of the population distribution. What is the probability that the mean fee for a sample of 30 customers was less than $125?
Evaluate the proposed change in credit standards : Evaluate the proposed change in credit standards and make a recommendation to the firm.
Functions-length and cost : A power Station and a factory are on opposite sides of a river 60m wide. A cable must be run from the power station to the factory. it costs $25 per meter to run a cable in the river and $20 per meter on land.
Initial investment in net working capital : The sausage system will save the firm $256,800 per year in pretax operating costs, and the system requires an initial investment in net working capital of $59,920.
Solve space constrained inventories : Space Constrained Inventories, A grocer has exactly 1,000 square feet available to display and sells 3 kinds of vegetables. The space consumed by each kind of vegetable is proportional to its cost

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd