BUSI 1013 Statistics for Business Unit 6 EX SamBagheri.docx...

1 BUSI 1013 Statistics For Business
Unit Exercise # 6
By: Samieh Bagheri
Date: February 18 th /2018
Course: BUSI 1013 Statistics for Business
Instructor: Albert Wong

2 BUSI 1013 Statistics For Business
INSTRUCTIONS
44/50
1. Assume that data contained in the BUSI1013-Numerical Data A.xls file is from a simple
random sample of customers of a Canadian retailer. Use this data to answer the
following: (4 points)
a. Develop a point estimate of the mean number of transactions for the retailer.
b. Develop a point estimate of the population standard deviation of the number of
transactions.
2. The average waiting time for customers at a fast food restaurant is 3.4 minutes. The
population standard deviation is 2.5 minutes. (6 points)
a. Assume that the waiting time of customers at this restaurant follow a normal
distribution, what is the probability that a simple random sample of 50
customers will have a sample waiting time of less than 3 minutes?
b. Do we need to make any assumption about the distribution of waiting times for
the calculation in Part a? Why or why not ?

3 BUSI 1013 Statistics For Business