Exhibit 9-2 The Manager of a Grocery Store Has Taken a Random

question 111

Multiple Choice

Exhibit 9-2
The manager of a grocery store has taken a random sample of 100 customers. The average length of time it took the customers in the sample to check out was 3.1 minutes. The population standard deviation is known to be 0.5 minutes. We want to test to determine whether or not the mean waiting time of all customers is significantly more than 3 minutes.
-Refer to Exhibit 9-2. At a .05 level of significance, it can be concluded that the mean of the population is

• A)significantly greater than 3
• B)not significantly greater than 3
• C)significantly less than 3
• D)significantly greater then 3.18

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Definitions:

16th Century

The period extending from January 1, 1501, through December 31, 1600, marked by significant events such as the Protestant Reformation and the age of exploration.

GNP

Gross National Product; the total value of goods produced and services provided by a country during one year, plus the net income from foreign investments.

GDP

Gross Domestic Product, which is the total value of all goods and services produced within a country's borders in a specific time period.

Households

Economic units consisting of all persons who occupy a dwelling, which make decisions on consumption, savings, and investments.