Suppose That a Random Sample of 100 Observations Was Drawn

question 86

Essay

Suppose that a random sample of 100 observations was drawn from a population. After calculating the mean and standard deviation, each observation was standardised and the number of observations in each of the intervals below was counted. Can we infer at the 10% significance level that the data were drawn from a normal population? $$\begin{array} { | c | c | } \hline \text { Intervals } & \text { Frequency } \\\hline Z \leq - 1 & 12 \\\hline - 1 < Z \leq 0 & 32 \\\hline 0 < Z \leq 1 & 36 \\\hline Z > 1 & 20 \\\hline\end{array}$$

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Definitions:

Supply Elastic

A measure of how much the quantity supplied of a good or service changes in response to a change in price.

Luxury Tax

A tax placed on expensive, non-essential products or services, aimed at curbing the consumption of luxury goods.

Middle Class

A social class made up of people who fall economically between the working class and the upper class, often defined by income, education, and occupation.

Customer Structures

The organization or arrangement of a company's customer base, typically segmented by needs, demographics, or behaviors.