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The manager of retail store is interested to know whether his. customers are making relatively large purchases. He has randomly sampled 25 customers the past , from...

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The manager of retail store is interested to know whether his. customers are making relatively large purchases. He has randomly sampled 25 customers the past , from months, and found that the average sales total for these receiptsis 572.17,with standard deviation of $12.06. Assuming that the sales totals from all customers over the past months are normally distributed, 95% confidence interval for the average sales total for all of his customers from the past months is (567.19,577.151. Based on t

The manager of retail store is interested to know whether his. customers are making relatively large purchases. He has randomly sampled 25 customers the past , from months, and found that the average sales total for these receiptsis 572.17,with standard deviation of $12.06. Assuming that the sales totals from all customers over the past months are normally distributed, 95% confidence interval for the average sales total for all of his customers from the past months is (567.19,577.151. Based on the given interval, can we conclude ata 5% significance level that the average sales total for allof his customers from the past - months is different from $80? Yes, since the entire Interval was below $80 , No; slncethe valuc 580 falls outside of J confidence Interval No,sincethe value 572.17 falls Inside the confidence interval Yes, since thc average from his samplee was differenttrom $80



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A study by the National Association of Realtors reports that second-home sales accounted for more than a third of residential real estate transactions in $2004 .$ According to the report, the average age of a person buying a second home as a vacation home was 55 years. A real estate agent wants to estimate the average age of those buying vacation homes in her area. She randomly selects 15 of her clients who purchased a vacation home and obtains the data shown. Assume that $\sigma=4.7$ (TABLE CAN'T COPY) (a) Use the data to compute a point estimate for the population mean age of the real estate agent's clients who purchased a vacation home. (b) Because the sample size is small, we must verify that client age is approximately normally distributed and that the sample does not contain any outliers. The normal probability plot and boxplot are shown next. Are the conditions for constructing a $Z$ -interval satisfied? (FIGURE CAN'T COPY) (c) Construct a $95 \%$ confidence interval for the mean age for all the real estate agent's clients who purchased a vacation home. Interpret this interval. (d) Do the real estate agent's clients appear to differ in age from the general population? Why?


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