Question

6.20. A convenience store owner wants to know how long his customers spend browsing the store before making a purchase. It is found that time spent is normally distributed with an average of μ = 5 minutes and a standard deviation of σ = 2.2 minutes. Using a random sample of 14 customers, what is the probability that a customer, on average, will spend less than 4 minutes browsing the store?

6.21. It is estimated that 66% of new businesses fail during the first ten years. What is the probability that in a sample of 30 startups, more than half will fail in the first ten years?

Answer #1

Customers make purchases at a convenience store, on average,
every ten and half minutes. It is fair to assume that the time
between customer purchases is exponentially distributed. Jack
operates the cash register at this store.
a-1. What is the rate parameter λ? (Round
your answer to 4 decimal places.)
a-2. What is the standard deviation of this
distribution? (Round your answer to 1 decimal
place.)
b. Jack wants to take a nine-minute break. He
believes that if he goes...

The owner of a small bookstore is planning her staffing, so she
wants to know how many customers to expect per hour.
What is the best distribution to represent the number of
customers arriving per hour?
If the average time between customers arriving at the store is
10 minutes, what is the probability of more than three customers
arriving in a particular hour?

The owner of a local phone store wanted to determine how much
customers are willing to spend on the purchase of a new phone. In a
random sample of 10 phones purchased that day, the sample mean was
$473.426 and the standard deviation was $29.1709. Calculate a 95%
confidence interval to estimate the average price customers are
willing to pay per phone.
Question 1 options:
1)
( 452.558 , 494.294 )
2)
( -452.558 , 494.294 )
3)
( 464.201...

The Business College Computing Center wants to determine the
proportion of business students who have laptop computers. If the
proportion is more than from 30%, then the lab will modify a
proposed enlargement of its facilities. Suppose a hypothesis test
is conducted and the test statistic is 2.8. Find the p-value for
a one-sided test of hypothesis.
A. .0026
B..0013
C. .4938
D. .0052
Suppose students' ages follow a skewed right distribution with
a mean of 25 years old and...

1. Running
On Carla Gomez is the owner of Running On—a retail store that
sells shoes and accessories to runners. Carla is trying to decide
what she should do with her retail business and how committed she
should be to her current target market. Carla started Running On
retail store in 1994 when she was only 24 years old. At that time,
she was a nationally ranked runner and felt that the growing
interest in jogging offered real potential for...

For months, Daniel Zhang huddled with a small team in an
underground garage in Shanghai. The chief executive of Alibaba
Group Holdings Ltd. was working on a secret plan that would sound
crazy even to many of his own colleagues 100 miles away in
Hangzhou. Zhang wanted to launch a startup inside the e-commerce
giant that would combine a grocery store, a restaurant, and a
delivery app, using robotics and facial recognition to speed up
logistics and payment.
That project,...

Delta airlines case study
Global strategy. Describe the current global
strategy and provide evidence about how the firms resources
incompetencies support the given pressures regarding costs and
local responsiveness. Describe entry modes have they usually used,
and whether they are appropriate for the given strategy. Any key
issues in their global strategy?
casestudy:
Atlanta, June 17, 2014. Sea of Delta employees and their
families swarmed between food trucks, amusement park booths, and
entertainment venues that were scattered throughout what would...

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