Applied Management Statistics

Task: Timed 2

  • individual
  • file format: .doc or .pdf.

Formalities:

  • Wordcount: no specific word limit. All questions should be answered.
  • Cover, Table of Contents, References and Appendix are excluded of the total wordcount.
  • Font: Arial 12,5 pts.
  • Text alignment: Justified.
  • The in-text References and the Bibliography have to be in Harvard’s citation style.

Submission:Week 10 – Via Moodle (Turnitin). You have 2 hours to complete this assignment.

Weight:This task is a10%of your total grade for this subject.

It assesses the following learning outcomes:

  • Ability to construct the confidence interval estimate in abstract settings
  • Ability to use Central Limit Theorem
  • Ability to construct the confidence interval for real-life problems

Question 1 (40 points):

The sample mean is 125, standard deviation 24, and the sample consists of 36 observations.

Construct  99% confidence interval estimate for the population mean (mu).

Question 2 (60 points):

Below you can find the sample of paychecks (in USD) of 9 customers of the popular fast-food restaurant.

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