BASIC BUSINESS STATISTICS QUESTION ANSWER 2022

Running head: BASIC BUSINESS STATISTICS
Basic Business Statistics
Name of the student:
Name of the University:
Author note:

BASIC BUSINESS STATISTICS
1

BASIC BUSINESS STATISTICS
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Table of Contents
Answer to the question 1............................................................................................................3
Part (a)....................................................................................................................................3
Part (b)....................................................................................................................................3
Answer to the question 2............................................................................................................4
Part (a)....................................................................................................................................4
Part (b)....................................................................................................................................4
Answer to the question 3............................................................................................................5
Answer to the question 4............................................................................................................6
Part (a)....................................................................................................................................6
Part (b)....................................................................................................................................7
Part (c)....................................................................................................................................7
Answer to the question 5............................................................................................................7
Answer to the question 6............................................................................................................8
Answer to the question 7............................................................................................................9
Bibliography.............................................................................................................................11

BASIC BUSINESS STATISTICS
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Answer to the question 1
Part (a)
Given that
μ= 50
n= 25
X = 45
S= 11.51
P ( X < 45) = P (
X−μ
s
√ n
<
45−50
11.51
√ 25
)
= P (Z < -2.1720)
= 0.0149
The claim of the manufactures is the sample mean is less than 45. It has been seen that
the probability of the less than 45 mean is very poor that is 0.0149. Hence the claim of the
manufactures is not true.
Part (b)
The 95% confidence interval for mean amount of fruit is
X ± 1.96 * σ
√ n
= 45± 1.96 * 11.51
√25
= (40.49, 124.36)
40.49≤mean amount of fruit≤124.36