BUSI 1013 Statistics for Business Unit 6 EX SamBagheri.docx - 1 BUSI 1013 Statistics For Business Unit Exercise 6 By Samieh Bagheri Date February

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

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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
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2 BUSI 1013 Statistics For Business INSTRUCTIONS 44/50 1.Assume that data contained in the BUSI1013-Numerical Data A.xlsfile 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 ?
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3 BUSI 1013 Statistics For Business
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