e - King Fahd University of Petroleum and Minerals

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STAT 211 Business Statistics I 8 Q3. (4+5=9pts.) The president of a company believes that 30% of the firm’s orders come from new customers. A sample random sample of 100 orders will be used to estimate the true proportion of new customers. The results of the sample will be used to verify the president’s clime. a. Assume that the president is correct and P=0.30. What is the sampling distribution of p for this study b. What is the probability that the sample proportion p will be between 0.20 and 0.40 ---------------------------------------------------------------------------------- Q4. (2+4+4=10 pts.) In an effort to estimate the mean amount spent per customer for dinner at a restaurant, data were collected for a sample of 49 customers over a three-week period. Assume that the population standard deviation is $2.50. a. What is the standard error of the mean b. At the 95% confidence, what is the margin of error c. If the sample mean is $22.6, what is the 95% confidence interval for the population mean
STAT 211 Business Statistics I 9 Q5. (4+3+3=10 pts.) In the testing of a new production method 18 employees were selected randomly and asked to try the new method. The sample mean production rate for the 18 employees was 80 parts per hour and the sample standard deviation was 10 parts per hour. a. Provide 95% confidence intervals for the population mean. b. Comment on your answer. c. What assumptions you made to solve the problem
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e - King Fahd University of Petroleum and Minerals

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