The mean sales per customer µ for all of the sales

Assignment Help Applied Statistics

Reference no: EM13733822

The mean sales per customer µ for all of the sales for your company last month is not known. Based on your past experience, you are willing to assume that the population standard deviation of sales, σ, is about $220. If you take a random sample of 100 sales, what is the value of the standard error of x¯¯?

If you take a random sample of 25 sales, what is the value of the standard error for x¯¯?

Remember that the sampling distribution of x¯¯ is normal with a mean of µ and a standard deviation of σx¯.

Reference no: EM13733822

Questions Cloud

Describe and provide flow diagrams for alternative patterns : You should detail at least three possible distribution options for Chocoberry's new venture. Describe and provide flow diagrams for the alternative patterns

Identify relevant economic article from either strayer : Identify a relevant economic article from either the Strayer Library or a newspaper. The article must deal with any course concepts covered in Weeks 1-4.

Write essay about three pages dossier on american president : write an essay about three pages dossier on american president. Tell me about their family, their birth, their death, their life, their controversies and their tenure as president.

Explain the process you plan to use to conduct research : Please describe the process you plan to use to conduct research, identify findings, and develop the Comprehensive Project and present a brief outline indicating how you intend to organize the project deliverable

The mean sales per customer µ for all of the sales : The mean sales per customer µ for all of the sales for your company last month is not known. Based on your past experience, you are willing to assume that the population standard deviation of sales, σ, is about $220. If you take a random sample of 10..

Identify the dfd elements : Compare the guidelines for preparing flowcharts and DFDs. What general design principles and limitations are common to both documentation techniques?

What is target''s capital-budgeting process : What is Target's capital-budgeting process. Is it consistent with the company's business and financial objectives. Explain what the dashboards tell you as a manager. Isn't the net present value (NPV) enough information to make you a go/no-go decis..

Write an essay on immigration then and now for davvyjones : Write an essay on Immigration then and now for Davvyjones. Read the article "Immigration Then and Now" By Gwenyth Swain; Cobblestone, May/Jun2013, Vol. 34 Issue 5.

Published articles and stories about the organization : Published articles/stories about the organization and Television/radio/news stories about your organization

User Account

All Pages