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Springdale Shopping Survey

Introduction

a. .

i. Answer: 3.82667 is the point estimator for the mean. 1.15129 is the point estimator for the standard deviation.

ii. Answer: The 95% confidence interval of the respondents’ mean is between lower limit 3.64243 and upper limit 4.01091.

b. .

i. Answer: 3.39333 is the point estimator for the mean. 1.11064 is the point estimator for the standard deviation.

ii. Answer: The 95% confidence interval of the respondents’ mean is between lower limit 3.2156 and upper limit 3.57107.

c. .

i. Answer: 3.08667 is the point estimator for the mean. 1.18115 is the point estimator for the standard deviation.

ii. Answer: The 95% confidence interval of the respondents’ mean is between lower limit 2.89765 and upper limit 3.27569.

2. .

i. Answer: 1.59333 is the point estimator for the mean. 0.49286 is the point estimator for the standard deviation.

ii. Answer: The 95% confidence interval of the respondents’ mean is between lower limit 1.51446 and upper limit 1.67221.

3. .

i. Answer: 1.55333 is the point estimator for the mean. 0.49881 is the point estimator for the standard deviation.

ii. Answer: The 95% confidence interval of the respondents’ mean is between lower limit 1.47351 and upper limit 1.63316.

4. .

i. Answer: The sample size for the Springdale Mall should be 2025 respondents in order for managers to have 95% confidence that the sample mean will fall within 0.05 margin of error.

ii. Answer: The sample size for the Downtown Mall should be 1936 respondents in order for managers to have 95% confidence that the sample mean will fall within 0.05 margin of error.

iii. Answer: The sample size for the West Mall should be 2116 respondents in order for managers to have 95% confidence that the sample mean will fall within 0.05 margin of error.

References

Anderson, D., Sweeney, D., & Williams, T. (2016). Essentials of Modern

Business Statistics with Microsoft® Excel®, 6th Edition. Boston, MA:

Cengage Learning.