THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 185

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
An airline is considering changing the color scheme of its planes' interiors.A focus group of 220 people was asked which color scheme they preferred.Of those who expressed a preference,87 preferred the new color scheme,while 121 preferred the old.
-For a random sample of 250 observations,the skewness of the data was calculated to be -0.25,while the kurtosis was calculated to be 3.25.Is there sufficient evidence to reject the null hypothesis of normality for this data?

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Definitions:

Long-Run Equilibrium

A state in economics where all factors of production are fully adjusted to market conditions, leading to a steady state where no incentives exist for further adjustment.

Demand Curve

A graphical representation that displays the relationship between the price of a good or service and the quantity demanded by consumers over a period of time.

Average Total Cost

The sum of all production costs (both fixed and variable) divided by the amount of product made.

ISO Quality Standards

A series of frameworks and guidelines established by the International Organization for Standardization to help companies ensure their products and services meet customer and regulatory requirements.