Question

A city in Ontario builds a new public parking garage in its Central business district downtown,...

A city in Ontario builds a new public parking garage in its Central business district downtown, hoping to attract more shoppers downtown. The city plans to pay for the structure through parking fees. For a random sample of 46 week- days, daily fees collected averaged $12, 700. The population standard deviation for daily fees collected is known to be $1450. Assume that parking fees are approximately normally distributed

  1. Find a 95% confidence interval for the mean daily income this parking garage will generate and interpret your answer. Use z- distribution.
  1. The consultant who advised the city on this project predicted that parking revenues would average $12,850 per day. Test the consultants claim at a level of confidence of 10% using a z distribution.
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
The city of Dubai builds a new public parking garage in its Central business district downtown,...
The city of Dubai builds a new public parking garage in its Central business district downtown, hoping to attract more shoppers downtown. The city plans to pay for the structure through parking fees. For a random sample of 44 week- days, daily fees collected averaged $12, 600. The population standard deviation for daily fees collected is known to be $1500. Assume that parking fees are approximately normally distributed Find a 90% confidence interval for the mean daily income this parking...
Hoping to lure more shoppers downtown, a city builds a new public parking garage in the...
Hoping to lure more shoppers downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 38 weekdays, daily fees collected averaged $134, with a standard deviation of $10. The consultant who advised the city on this project predicted that parking revenues would average at least $135 per day. Based on your confidence interval, revenues (could / could not) average at...
Hoping to lure more shoppers downtown, a city builds a new public parking garage in the...
Hoping to lure more shoppers downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 38 weekdays, daily fees collected averaged $134, with a standard deviation of $10. Construct a 90% confidence interval estimate for the mean daily income this parking garage will generate. Round your final answers to whole numbers. Show your work! Formula(s), substitutions, answer! Round your z...
Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in the...
Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 42 ​weekdays, daily fees collected averaged ​$127, with standard deviation of ​$16 ​b) Find a 90% confidence interval for the mean daily income this parking garage will generate. The 90% confidence interval for the mean daily income is ​($ ___, $____) Round to two decimal...
Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in the...
Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 44 weekdays, daily fees collected averaged $133, with standard deviation of $12. Complete parts a through e below. a) What assumptions must you make in order to use these statistics for inference? Select all that apply: A. The data values should be dependent. B. The...
Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in the...
Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 44 ​weekdays, daily fees collected averaged ​$131​, with standard deviation of ​$13. a) What assumptions must you make in order to use these statistics for​ inference? Select all that apply. ​b) Find a 90​% confidence interval for the mean daily income this parking garage will...
Hoping to lure more shoppers downtown, a city builds a new public parking garage in the...
Hoping to lure more shoppers downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. During a two-month period (61 days), daily fees collected averaged $126, with a standard deviation of $21. The consultant who advised the city on this project predicted that parking revenues would average $130 per day. Perform a test at α = 0.05 to determine if the true average revenues are...
1. Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in...
1. Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 42 ​weekdays, daily fees collected averaged ​$133​, with standard deviation of $16. ​- Find a 95​% confidence interval for the mean daily income this parking garage will generate. The 95​% confidence interval for the mean daily income is 2. A grocery​ store's receipts show...
the city if akron, ohio built a new public parking garage downtown hoping to attract more...
the city if akron, ohio built a new public parking garage downtown hoping to attract more shoppers downtown. the city has plans to pay for the structure theough parking fees. Alexis, the consultant hired by the city wants to estimate the average daily revenue from the parking. she randomly selected 25 weekdays and calculated the average daily fees collected to be $150. Based on data from ither parking structures, the consultant will assume daily parking fees at this parking garage...
Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in the...
Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 45 ​weekdays, daily fees collected averaged ​$128​, with standard deviation of ​$12. Complete parts a through e below. ​a) What assumptions must you make in order to use these statistics for​ inference? Select all that apply. A. The data values should be dependent. B. The...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT