Interpreting Confidence Intervals, homework help

label Statistics
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

In the 1960s, data were collected on the weights of people to determine the safe passenger capacity of aircraft. Using a random sample the mean weight was found to be 166.3 lbs.In recent decades, the mean weight of the population has increased considerably, so we need to update our estimate of that mean.Recently, a simple random sample of the weights of n = 40 people was collected and found to have a mean of = 172.55 lb.How could these data be used to impact airline passengers in areas like cost

Jan 13th, 2016

Thank you for the opportunity to help you with your question!

the mean weight of the population has increased from 166.3 Ibs to 172.55 Ibs. this could have an impact on the capability of the aircraft to handle such an increase in the weight of passengers. therefore, the airline firm should determine whether the safety of passengers is at risk. this will entails measures such as acquiring a new aircraft that can handle increase in weight of passengers in the future. when this happen, the fixed costs of the airline will increase if it was to buy another aircraft. the firm should consult experts to determine how a change in fixed costs will affect the profitability of the firm.

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jan 13th, 2016

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Jan 13th, 2016
...
Jan 13th, 2016
Aug 23rd, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer