BUSINESS STATISTICS

Business Statistics



Business Statistics

Answer 1

In the case given that is suppose you carried out a survey with 10 respondents. If you had a mean score of 134, a standard deviation of 3.1, with the desired confidence level of 90 percent then the CI will be the following

Sample Size = 10

Sample Observed Mean = 134

Sample Observed Standard Deviation = 3.1

Desired Confidence Level = 90 %

Results

Confidence Interval: ±1.61;

That is to say that we can be 90% certain that the true population mean falls within the range of 132.39 to 135.61.

Answer 2

(a)

X

2.25

2.25

2.25

2

2

1.5

0

2

1.5

2

3

1.5

22.25

Mean

1.85416

Standard Deviation

5.69848

(b, c)

In the case given that ...