Sample sales mean below the value

Assignment Help Basic Statistics

Reference no: EM13105584

Greenston coffee is experiencing financial problems because of competition. Total sales revenue has dropped by 15% and the company wished to establish a sales monitoring process to identify shops that are under-performing. Historically the daily mean sales for a shop has been $11,500 with a variance of 4,000,000. Their monitoring plan will take a random sample of 5 days sales per month and use the sample mean sales to identify shops that are under-performing. Establish the lower limit sales such that only 5% of the shops would have a sample sales mean below this value.

Reference no: EM13105584

Questions Cloud

Recommendation for network : You have been hired by a small new web design firm to set up a network for its single office location. The network is primarily needed for exchanging files, accessing and managing beta websites on its web server, and connecting to the Internet.

What are various groups that identifies as well as the goals : Start with the Org Level. Recognise the Outputs - what does it produce and sell? What are its goals? How has it been performing? Then go the group level.

Calculate the profit maximizing price and quantity : Calculate the profit maximizing price and quantity of subscriptions for the U.K. and indicate each on the appropriate graph. Do the same for the U.S.

Explain how does eharmony define its market segment : Explain how does eHarmony define its market segment? Illustrate what strategy or strategies does eHarmony use to target one particular segment?

Sample sales mean below the value : Their monitoring plan will take a random sample of 5 days sales per month and use the sample mean sales to identify shops that are under-performing. Establish the lower limit sales such that only 5% of the shops would have a sample sales mean belo..

Calculate the expected number of trucks waiting in the queue : Billy of Billy's Warehouse in Maine contracts with motor carriers for deliveries however, they assess him with stiff penalties if their trucks have to wait to be unloaded.

Determine decimal value on big-endian machine : A 32-bit word on the little-endian computer has decimal value of 261. Determine its decimal value on big-endian machine?

Rachel lets go another way since i''m only the customer : Rachel, let's go another way since I'm only the customer. What do you have knowledge on? Every time I succumb

Post the definitions of import and export and give examples : post the definitions of import and export and give examples of a chosen company and product for 1 import and 1 export item. Advocate either buying imports or buying domestically for retailing the item.

User Account

All Pages