A Coffee Shop Franchise Owner Is Looking at Two Possible

question 140

Essay

A coffee shop franchise owner is looking at two possible locations for a new shop. To help make a decision the owner looks at the number of pedestrians that go by each of the two locations in one-hour segments. At location A, counts are taken for 35 one-hour units and with a mean number of pedestrians of 421 and a sample standard deviation of 122. At the second location (B), counts are taken for 50 one hour units with a mean number of pedestrians of 247 and a sample standard deviation of 85. Assume the two populations variances are not known but are equal, and that the number of pedestrians is approximately normal.
-Provide a one-sentence interpretation of the 95% confidence interval for the mean difference in pedestrian traffic at the two locations.

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Definitions:

McClelland's Motivation Theory

highlights the need for achievement, power, and affiliation as the key drivers of human motivation, influencing behavior in personal and professional contexts.

Need for Power

A personality trait characterized by a strong desire for influence, control, or authority over others or the environment.

Restore Equity

The act of rectifying or balancing out an unfair situation, ensuring fairness and justice in the distribution of resources or treatment.

Overpaid

Describes a situation where an individual receives compensation that is considered excessively high for the work performed or the position held.