Use the Following Information to Answer the Question

question 50

Short Answer

Use the following information to answer the question. Suppose the manager of a large appliance and electronics store wants to estimate the amount spent by customers during the holiday season. He took a random sample of customers and recorded the amount they spent. A histogram of the data shows that the data is strongly left- skewed. The figures below show the confidence intervals for the mean amount spent using (A)raw (untransformed)data, and (B)log- transformed data, which showed a more normally distributed data set.

-Calculate the width of both intervals (note that you will need to convert the
log- transformed interval back into dollars)and state which interval is narrower?

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Definitions:

Coping Behaviour

The methods or strategies that individuals use to manage or mitigate stressful or challenging situations.

Stress

A physical or psychological strain or tension resulting from adverse or demanding circumstances.

Coping Behaviours

Actions taken by individuals to manage stress or adversity in their lives.

Video Display Terminals

Electronic devices with a screen used to display information from a computer, commonly used in offices and workplaces for data entry and processing.