Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 11 Feb 2018 My Price 3.00

annual inventory turnover

9                       The mean annual inventory turnover rate of a random sample of 24 convenience stores was found to be 3.8 times per annum. Assume that the population standard deviation is 0.6 and that the annual inventory turnover rate amongst convenience stores is normally distributed.

(a)        Calculate the actual average annual inventory turnover rate, with 90% confidence, for all convenience stores. (Use the z-table.) Interpret the result.

(b)        Compute (a) using Excel’s NORMSINV formula to find the z-value.

(c)         Use Excel’s CONFIDENCE formula to compute (a).

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Feb 2018 09:02 PM My Price 3.00

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