Mathematics, 23.03.2020 18:00 franco43
A random sample of 10 one-bedroom apartments from your local newspaper has these monthly rents (dollars).
600, 665, 535, 330, 420, 480, 695, 540, 370, 410
Assume these monthly rents are normally distributed. Do these data give good reason to believe that the mean rent of all advertised apartments is greater than $500 per month?
Answers: 3
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The management of a supermarket wants to adopt a new promotional policy of giving a free gift to every customer who spends more than a certain amount per visit at this supermarket. the expectation of the management is that after this promotional policy is advertised, the expenditures for all customers at this supermarket will be normally distributed with a mean of $95 and a standard deviation of $20. if the management wants to give free gifts to at most 10% of the customers, what should the amount be above which a customer would receive a free gift?
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