Assume That a Simple Random Sample Has Been Selected from a Normally

question 125

Essay

Assume that a simple random sample has been selected from a normally distributed population. Find the test statistic, P-value, critical value(s), and state the final conclusion.
-A public bus company official claims that the mean waiting time for bus number 14 during peak hours is less than 10 minutes. Karen took bus number 14 during peak hours on 18 different occasions. Her mean waiting time was 7 minutes with a standard deviation of 2.3 minutes. At the 0.01 significance level, test the claim that the mean is less than 10 minutes.

---

Definitions:

Geodemographic Segmentation

The process of dividing a market into smaller groups based on geographic location and demographic characteristics for targeted marketing strategies.

Psychographic Segmentation

The division of a market into different segments based on consumers' personality traits, values, attitudes, interests, and lifestyles.

Benefit Segmentation

A strategy in marketing that categorizes a market into various segments, focusing on the distinct advantages customers look for in a product.

Psychographic Segmentation

The process of dividing a market into segments based on consumer psychology, including personality traits, values, attitudes, interests, and lifestyles.