MGMT305-Lec5

# Thefirm isevaluatingapotentiallocationfora

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Unformatted text preview: e t distribution table. s The mean of the t distribution is always zero. s Slide 12 t Distribution t distribution (20 degrees of freedom) Standard normal distribution t distribution (10 degrees of freedom) 0 z, t Slide 13 t Distribution D egrees Area in Upper Tail of Freedom .20 .10 .05 .025 .01 .005 . . . . . . . 50 .849 1.299 1.676 2.009 2.403 2.678 60 .848 1.296 1.671 2.000 2.390 2.660 80 .846 1.292 1.664 1.990 2.374 2.639 100 .845 1.290 1.660 1.984 2.364 2.626 .842 1.282 1.645 1.960 2.326 2.576 ∞ Standard normal z values Slide 14 Interval Estimation of a Population Mean Example 1: Discount Sounds Discount Sounds has 260 retail outlets throughout the United States. The firm is evaluating a potential location for a new outlet, based in part, on the mean annual income of the individuals in the marketing area of the new location. A sample of size n = 36 was taken. The sample mean income is \$31,100 and the sample standard deviation is \$4,500. The confidence coefficient to be used in the interval estimate is .95. s D S Slide 15 Interval...
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## This note was uploaded on 03/03/2012 for the course MGMT 305 taught by Professor Priya during the Spring '08 term at Purdue University-West Lafayette.

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