Why is the distribution of lateness certainly not normal

Assignment Help Basic Statistics
Reference no: EM131167460

Suppose a bill is considered late if it is paid after 20 days.

In this case its "lateness" is the number of days over 20. For example, a bill paid 23 days after billing has a lateness of 3, whereas a bill paid 18 days after billing has a lateness of 0.

•Find a 95% confidence interval for the mean amount of lateness for all customers.

•Find similar confidence intervals for each customer size separately.

•Why is the distribution of lateness certainly not normal? Do you think this matters for the validity of the confidence interval?

Reference no: EM131167460

Questions Cloud

Does it matter that you can not really touch anything : Does it matter that you can not really touch anything? How does this make you feel? If you could touch something, what would you touch? How do you think it would feel?
What are the stages of a decubitus ulcers : What is a decubitus ulcer? What are the stages of a decubitus ulcers? What actions are taken at each stage
Concept of operating exposure : Expound on the concept of operating exposure. Does it support or contradict accounting expoisure?
Argentina experienced robust growth and fiscal restraint : Last year Argentina experienced robust growth and fiscal restraint, but some analysts continue to worry about its current account deficit, which today is 4 percent of GDP. But this worry is wrongheaded because this deficit is the result of confidence..
Why is the distribution of lateness certainly not normal : Why is the distribution of lateness certainly not normal?  - Do you think this matters for the validity of the confidence interval?
What the forward rate should be and why : 2) Assume PPP is present. The inflation rate in the US is 4% and in Britain it is 11%. The spot ER between the 2 currencies is $/BP1.4. Expound on what the forward rate should be and WHY
Interest rate cuts to quantitative easing : The bank of England has switched from interest rate cuts to “quantitative easing.” This policy involves buying bonds from commercial banks in the hope that these institutions will again lend in vast quantities to businesses and individuals after sitt..
What are the stated objectives : What are the stated objectives of the 2 a fore mentioned institutions?
Find given confidence interval for mean amount of interest : Find a 95% confidence interval for the mean amount of interest it could gain if each of its customers paid exactly one day more promptly.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Probability of having an asthma attack

It has been hypothesised that the probability of having an asthma attack on a particular day may vary across the days of the week. Baibergenov et al. (2005) report a longitudinal study in which the number of emergency department admissions due to ..

  Weekly average expenditure on fast food

If 200 of the adults surveyed were in the age category of 24 and under and they provided a standard deviation of $14.50, construct a 95% confidence interval for the weekly average expenditure on fast food for adults 24 years of age and under.

  Calculate and evaluate the capability indexes to determine

British airways employs you as cunsultant to analyse the departure time of flight leaving Cape Town International Airport. The acceptance time frame for departures is 0 for on-time plus or minus 15 minutes. During a typical week the following flights..

  What is the distribution of n

An event independently occurs on each day with probability p. Let N(n) denote the total number of events that occur on the ?rst n days, and let Tr denote the day on which the rth event occurs. (a) What is the distribution of N(n)?

  Determine best course to take using maximax criteria

Brooke can expect a different grade in each of thecourses, depending on who teaches it next quarter. Determine the best course to take next quarter, using the following criteria Maximax.

  Suppose that we have ratings of a restaurant from a sample

question 1suppose that we have ratings of a restaurant from a sample of 72 customers. each of the ratings is either

  Confidence interval-t test and outlier

Using the results, describe the effect of an outlier or extreme value on the confidence interval.

  Which of the following describes the effect of increasing

which of the following describes the effect of increasing sample size?measures of effect size and the likelihood of

  The mean and the standard deviation of the sample of 100

the mean and the standard deviation of the sample of 100 bank customer waiting times in table 1.8 are xbar5.49 and

  Maximised the maximum revenue

Use differential calculus to find both sales volume at which revenue is maximised and the maximum revenue available from sales of product X.

  What percentage of your points are within the 1 2 or 3

use the following information to compute the answers. show your work.8 9 9 9 10 10 10 11 11 16 17 17 17 19 20 21 21 21

  Operating correctly according to specifications

Assuming that the process is operating correctly according to specifications, what is the probability that a sample will indicate that an adjustment is needed?

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