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Statistics: Mall Security Problem

View Solution # 27228

Price: $3.00

PROBLEM 3:
Mall security estimates that the average daily per-store theft is exactly $335, but wants to determine the accuracy of this statistic. The company researcher takes a sample of 81 clerks and finds that =$300 and s = $80.

a) Test at a = 0.05.
b) Construct a 95% CIE of µ

Solution

The test at 0.05 (alpha) is conducted - two tail, hypothesis and alternate hypothesis are examined. The limits of the confidence interval (of mean) at 95% confidence are computed.

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