The branch manager of an outlet (Store 1) of a nationwide chain of pet supply stores
The branch manager of an outlet (Store 1) of a nationwide chain of pet supply stores wants to study characteristics of her customers. In particular, she decides to focus on two variables: the amount of money spent by customers and whether the customers own only one dog, only one cat, or more than one dog and/or cat. The results from a sample of 70 customers are as follows:
*Amount of money spent:Â 
*37 customers own only a dog.
*26 customers own only a cat.
*7 customers own more than one dog and/or cat.
a. Construct a 95% confidence interval estimate of the population mean amount spent in the pet supply store.
b. Construct a 90% confidence interval estimate of the population proportion of customers who own only a cat. The branch manager of another outlet (Store 2) wishes to conduct a similar survey in his store. The manager does not have access to the information generated by the manager of Store 1. Answer the following questions:
c. What sample size is needed to have 95% confidence of estimating the population mean amount spent in his store to within ±$1.50 if the standard deviation is $10?
d. What sample size is needed to have 90% confidence of estimating the population proportion of customers who own only a cat to within ±0.045?
e. Based on your answers to (c) and (d), how large a sample should the manager take?
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Answers
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Posted 17 May 2017 02:05 PM
My Price 8.00
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