Kinsey Williams BSAD221-03-28 or 30 November 2018 Exam III, Fall 2018 Name: apply Spreadsheet Techniques for the course, please complete in Microsoft Excel as the Tool to assist you with Computations Please use and present appropriate Functions/Formularem per te realic fullborden gestrate your knowledge. Since you are required to and please Show Functions, as appropriate. Please PRINT your Work, including YOUR FORMULAE!!! Please Maintain the Highest Regard for Policies of Academic Honesty - This is an Individual Exam/Assignment 1. Allegiant Airlines charges a mean base fare of $89. In addition, the airline charges for making a reservation on its website, checking bags, and inflight beverages. These additional charges average S39 per passenger (Bloomberg Businessweek. October 8-14, 2012). Please suppose a random sample of 60 passengers is taken to determine the total cost of their flight on Allegiant Airlines. The population standard deviation (6) of total flight cost is known to be 40. 25 Points a. Please show (sketch) the sampling distribution of the mean cost per flight for a sample of 60 passengers. b. What is the probability the sample mean will be within $10 of the population mean cost per flight? What is the probability the sample mean will be within 55 of the population mean cost per flight? 2. In a restaurant, the proportion of people who order coffee with their dinner is 0.9. A simple random sample of 144 patrons of the restaurant is taken. {25 Points 2. Please show (sketch) the sampling distribution of p (the sample proportion), of people who order coffee with their dinner What is the probability that the proportion of people who will order coffee with their meal is between 0.85 and 0.875? c What is the probability that the proportion of people who will order coffice with their meal is at least 0.9452 Statistics Fall 2018 III VI - Dr. Boyce I CONFI BSAD221-01 - 28 or 30 November 2018 Exam III, Fall 2018 Name 3. The average cost per night of a hotel room in New York City is $273 (SmartMoney, March 2009). Please assume this estimate is based on a sample of 45 hotels and that the sample standard deviation is $65. (25 Points With 95% Confidence, what is the Margin of Error? b. What is the 95% Confidence interval Estimate of the population mean? Two years ago the average cost of a hotel room in New York City was $229. Please discuss the change in cost over the two-year period - Using Grammatically complete sentence(s) and appropriate Calculations (SHOWN within your Spreadsheet, Please)!!! 4. An online survey by ShareBuilder, a retirement plan provider, and Harris Interactive reported that 60% of female business owners are not confident they are saving enough for retirement (SmallBiz, Winter 2006). Please suppose we would like to do a follow-up study to determine how much female business owners are saving each year toward retirement and want to use $100 as the desired Margin of Error for an interval estimate of the population mean. Please use S1100 as a planning value for the standard deviation and please recommend a sample size for each of the following situations. {25 Points) a A 90% Confidence Interval is desired for the mean amount saved. b. A 95% Confidence Interval is desired for the mean amount saved. c. A 99% Confidence Interval is desired for the mean amount saved. -Bonus NOT Required, but will be added to your Total Exam Points! ☺ 5. A university planner wants to determine the proportion of Fall semester students who will attend summer school. She surveys 32 current students discovering that 12 will return for summer school. {15 Points) a. What is the point estimate of the students who will return for summer school? b. Please construct a 90% Confidence Interval Estimate for the proportion of current Fall students who will return for summer school. c. What is the Margin of Error for the 90% Confidence Interval that you constructed in part b? d. With a 0.95 probability, how large of a sample would have to be taken to estimate the proportion of students in the population will attend summer school a Margin of Error of 3% or less? III VI NY Morrisville)
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