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Unformatted text preview: Review 3 STA 2014 1. Mahalo Burgers, Inc, claims that the mean gross revenue of Mahalo Burgers stores is $300000 per year with a standard deviation of $72000. a) If a random sample of 38 stores in the franchise is selected, describe the sampling distribution of the mean annual gross revenue of the 38 stores. b) What is the probability that the mean annual gross revenue for the 38 stores in a) is between $299200 and $300900? c) If a random sample of 12 stores in the franchise is selected, describe the sampling distribution of the mean annual gross revenue of the 12 stores? 2.According to a magazine survey 28% of adults do not have any credit cards. Suppose that a random sample of 500 adults is obtained, and 125 of them do not have credit cards. a) Compute the sample proportion of adults who do not have credit cards. b) Describe the sampling distribution of the sample proportion. c)Find the probability that a random sample of 500 adults results in 129 or more having no credit cards. Wouldc)Find the probability that a random sample of 500 adults results in 129 or more having no credit cards....
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This note was uploaded on 07/28/2011 for the course STA 2014 taught by Professor Staff during the Fall '10 term at University of Florida.
 Fall '10
 Staff
 Statistics, Standard Deviation

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