#### Question Details

##### [solution] » From the MGT361 Lawn.xls file, select the variable family income

Brief item decscription

Step-by-step solution file

Item details:

From the MGT361 Lawn.xls file, select the variable family income
More:

1. From the MGT361 Lawn.xls file, select the variable family income.
1. Is the variable family income approximately normally distributed? Justify using two different methods.
2. Find a point estimate and construct the 95% confidence interval for the population mean of family income.
3. Write a statement to explain what the confidence interval you constructed in (b) means.
2. From the MGT361Adradtv.xls file, select the variable sales (\$000).
1. Is the variable sales approximately normally distributed? Justify using two different methods, one of which must be the comparison of the cumulative percent frequencies with those expected from the normal distribution.
2. Find a point estimate and construct the 95% confidence interval for the population mean of sales.
3. Construct the 99% confidence interval for the population mean of sales.
4. Compare the 95% and 99% confidence intervals you got in b) and c). How do they compare? What is the explanation for this difference? What are the advantages and disadvantages of each of these confidence intervals?

Sheet1

Radio/TV Newspaper

SALES

Advertising Advertising

(\$000)

(\$000)

(\$000)

973

0

40

1119

0

40

875

25

25

625

25

25

910

30

30

971

30

30

931

35

35

1177

35

35

882

40

25

982

40

25

1628

45

45

1577

45

45

1044

50

0

914

50

0

1329

55

25

1330

55

25

1405

60

30

1436

60

30

1521

65

35

1741

65

35

1866

70

40

1717

70

40

Page 1

About this question:
STATUS
Answered
QUALITY
Approved
ANSWER RATING

This question was answered on: Feb 21, 2020

Solution~00093399.zip (18.37 KB)

Buy this answer for only: \$24

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy (Deadline assured. Flexible pricing. TurnItIn Report provided)

Pay using PayPal (No PayPal account Required) or your credit card. All your purchases are securely protected by PayPal.

### Need a similar solution fast, written anew from scratch? Place your own custom order

We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.