The Owner of a Large Car Dealership Believes That the Financial

question 45

Multiple Choice

The owner of a large car dealership believes that the financial crisis decreased the number of customers visiting her dealership.The dealership has historically had 800 customers per day.The owner takes a sample of 100 days and finds the average number of customers visiting the dealership per day was 750.Assume that the population standard deviation is 350.At a 5% significance level,the critical value(s) is(are) ___________.

• A) 1.645
• B) -1.645
• C) -1.96 and 1.96
• D) -2.030 and 2.030

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Definitions:

Binomial Distribution

The binomial distribution is a probability distribution that summarizes the likelihood of obtaining a fixed number of successes in a fixed number of trials with a specific probability of success in each trial.

Expected Value

A statistical concept representing the average outcome of a random variable over a large number of experiments or trials.

Binomial Probability Distribution

A probability distribution that summarizes the likelihood that a value will take one of two independent values under a given set of parameters or conditions.

Expected Number

A statistical term referring to the average value or mean of a random variable, calculated as the sum of all possible values each multiplied by its probability of occurrence.