Suppose That a Random Sample of 150 Observations Was Drawn

question 45

Essay

Suppose that a random sample of 150 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 5% significance level that the data were drawn from a normal population? $$\begin{array} { | c | c | } \hline \text { Intervals } & \text { Frequency } \\\hline Z \leq - 1.5 & 15 \\\hline - 1.5 < Z \leq - 0.5 & 32 \\\hline - 0.5 \leq Z \leq 0.5 & 65 \\\hline 0.5 < Z \leq 1.5 & 25 \\\hline Z > 1.5 & 13 \\\hline\end{array}$$

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Definitions:

Supply Planning Process

The proactive method of coordinating assets to optimize the supply of products and services.

Sales Forecast

The process of estimating future sales, based on historical data, industry comparisons, and market analysis, to guide business planning.

Production Forecast

A projection of the quantity of goods or services a company plans to produce over a specific period, based on demand predictions and resource availability.

General Economic Forecast

An estimation or prediction of future economic conditions globally or within a specific region.