A Random Sample of 49 Lunch Customers Was Taken at a Restaurant

question 32

Essay

A random sample of 49 lunch customers was taken at a restaurant. The average amount of time the customers in the sample stayed in the restaurant was 45 minutes with a standard deviation of 14 minutes.
a.Compute the standard error of the mean.
b.With a .95 probability, what statement can be made about the size of the margin of error?
c.Construct a 95% confidence interval for the true average amount of time customers spent in the restaurant.
d.With a .95 probability, how large of a sample would have to be taken to provide a margin of error of 2.5 minutes or less?

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Definitions:

Informal Leadership

Informal leadership refers to the influence and guidance provided by individuals who may not hold formal authority or positions but are recognized as leaders by their peers.

Co-leadership

A leadership structure where two or more individuals share the role of leading an organization, team, or project.

Implicit Leadership Theory

The concept suggesting that people have ingrained beliefs and assumptions about the attributes and behaviors that make an effective leader.

Sensitivity

The quality of being responsive or susceptible to changes or the feelings of others; in a business context, it can relate to understanding market needs or team dynamics.