Question

Problem: Whole Foods is an all-natural grocery store chain. A random sample of 10 stores was...

Problem: Whole Foods is an all-natural grocery store chain. A random sample of 10 stores was taken and the average, x̄, sales per square foot is $846.20 and the sample standard deviation, s is $32.866.

a. Should a z-based or t-based confidence interval be used?

b. Find a 95 percent confidence interval for the population mean sales dollars per square foot for all Whole Foods supermarkets.

c. Historically, Whole Foods sells on average $800 per square foot. Are we 95 percent confident that this mean is greater than the $800 historical average?

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
3. Whole Foods is an all-natural grocery chain that has 50,000-square-foot stores, up from the industry...
3. Whole Foods is an all-natural grocery chain that has 50,000-square-foot stores, up from the industry average of 34,000 sq ft. Sales per square foot of supermarkets average just under $400 per square foot, as reported by USA Today. Suppose that sales per square foot in the most recent fiscal year are recorded for a random sample of 10 Whole Foods supermarkets. The data are as follows: 854 858 801 892 849 807 894 863 829 815 a. Find the...
A random sample of 100 stores from a large garden supply chain was selected to determine...
A random sample of 100 stores from a large garden supply chain was selected to determine the average number of lawnmowers sold at an end-of-season clearance sale. A 95% confidence interval was calculated to be 5.62 < μ < 6.38 based on the sample statistics. The confidence interval may be interpreted as follows. A. 95% of the stores have sold between 5.62 and 6.38 lawnmowers on average. B. There is a 95% probability that the sample mean number of lawnmowers...
Fresh!Now! is a chain of grocery stores in the United States with 1784 grocery stores in...
Fresh!Now! is a chain of grocery stores in the United States with 1784 grocery stores in total, some of which also sell bakery goods and freshly made food-to-go. Fresh!Now!’s goal is to provide good quality fresh vegetables at affordable prices. However, given the existing market of organic food supplies, Fresh!Now! is facing tremendous competition. They realize that Fresh!Now! has to make their stores more attractive to customers. In 19 stores across Massachusetts and New York, they have implemented a new...
Fresh!Now! is a chain of grocery stores in the United States with 1839 grocery stores in...
Fresh!Now! is a chain of grocery stores in the United States with 1839 grocery stores in total, some of which also sell bakery goods and freshly made food-to-go. Fresh!Now!’s goal is to provide good quality fresh vegetables at affordable prices. However, given the existing market of organic food supplies, Fresh!Now! is facing tremendous competition. They realize that Fresh!Now! has to make their stores more attractive to customers. In 19 stores across Massachusetts and New York, they have implemented a new...
Fresh!Now! is a chain of grocery stores in the United States with 1751 grocery stores in...
Fresh!Now! is a chain of grocery stores in the United States with 1751 grocery stores in total, some of which also sell bakery goods and freshly made food-to-go. Fresh!Now!’s goal is to provide good quality fresh vegetables at affordable prices. However, given the existing market of organic food supplies, Fresh!Now! is facing tremendous competition. They realize that Fresh!Now! has to make their stores more attractive to customers. In 19 stores across Massachusetts and New York, they have implemented a new...
To compare prices of two grocery stores in Toronto, a random sample of items that are...
To compare prices of two grocery stores in Toronto, a random sample of items that are sold in both stores were selected and their price noted in the first weekend of July 2018: (12 Points) Item Store A Store B Difference (Store A - Store B) 1 1.65 1.98 -0.33 2 8.70 8.49 0.21 3 0.75 0.89 -0.14 4 1.05 0.99 0.06 5 11.30 11.99 -0.69 6 7.70 7.99 -0.29 7 6.55 6.99 -0.44 8 3.70 3.59 0.11 9 8.60...
The price of a box of all natural cereal obtained from 10 randomly selected supermarkets had...
The price of a box of all natural cereal obtained from 10 randomly selected supermarkets had a mean of $3.20 and a standard deviation of $0.50. The numerical value of the t-statistic for testing the hypothesis H0: μ = $3.00,    Ha: μ > $3.00 is t = 1.26. What can we say about the p-value of this test? a. p < .05 b. p = .05                                 c. p > .05 What is the numerical value of t* for a 95%...
The general manager of a chain of pharmaceutical stores reported the results of a regression analysis,...
The general manager of a chain of pharmaceutical stores reported the results of a regression analysis, designed to predict the annual sales for all the stores in the chain (Y) – measured in millions of dollars. One independent variable used to predict annual sales of stores is the size of the store (X) – measured in thousands of square feet. Data for 14 pharmaceutical stores were used to fit a linear model. The results of the simple linear regression are...
A random sample of 10 drivers reported the below average mileage in the city for their...
A random sample of 10 drivers reported the below average mileage in the city for their cars. 18, 21, 24, 25, 25, 25, 25, 26, 29, & 31 The mean of the sample is 24.9 miles per gallon, with an associated standard deviation of about 3.6. Find the 95% confidence interval for the average mileage of the cars for all of the drivers in the class. Assume all normality conditions apply. Determine the approximate sample size needed to estimate the...
Researchers are interested in the texting habits of all US adults. A random sample of n=755...
Researchers are interested in the texting habits of all US adults. A random sample of n=755 US cell phone users age 18 and older in May 2011 found that the average number of text messages sent or received per day is 41.5 messages, with standard error about 6.1. a)Because we did not take a census, we cannot give a specific value for the parameter, u. Instead, describe µ using words. Be very specific. b) What is our best estimate for...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT