Data Analysis on chain of fast food

Data Analysis on chain of fast food

Question 1

Don't use plagiarized sources. Get Your Custom Essay on
Data Analysis on chain of fast food
Just from $5/Page
Order Essay

A group of investors wants to develop a chain of fast-food restaurants. In determining potential costs
for each facility, they must consider, among other expenses, the average monthly electric bill. They
decide to sample some fast-food restaurants currently operating to estimate the monthly cost of
electricity. They want to be 90% con?dent of their results and want the error of the interval estimate to
be no more than $100. They estimate that such bills range from $600 to $2,500. How large a sample
should they take?

Question 2

Suppose a study reports that the average price for a gallon of self-serve regular unleaded gasoline is
$3.16. You believe that the ?gure is higher in your area of the country. You decide to test this claim
for your part of the United States by randomly calling gasoline stations. Your random survey of 25
stations produces the following prices (all in $). Assume gasoline prices for a region are normally
distributed. Do the data you obtained provide enough evidence to reject the claim? Use a 1% level of
signi?cance.
3.27 3.29 3.16 3.20 3.37
3.20 3.23 3.19 3.20 3.24
3.16 3.07 3.27 3.09 3.35
3.15 3.23 3.14 3.05 3.35
3.21 3.14 3.14 3.07 3.10

Question 3

Where do CFOs get their money news? According to Robert Half International, 47% get their money
news from newspapers, 15% get it from communication/colleagues, 12% get it from television, 11%
from the Internet, 9% from magazines, 5% from radio, and 1% do not know. Suppose a researcher
wants to test these results. She randomly samples 67 CFOs and ?nds that 40 of them get their
money news from newspapers. Does the test show enough evidence to reject the ?ndings of Robert
Half International? Use a = .05.

Question 4

To answer this question, use the Data Analysis Tool pack in Excel and select “t-Test: Two-Sample
Assuming Equal Variances” from the list of available tools. Explain your answer (how did you decide if
men spend more) and include the output table. Some studies have shown that in the United States,
men spend more than women buying gifts and cards on Valentine’s Day. Suppose a researcher
wants to test this hypothesis by randomly sampling nine men and 10 women with comparable
demographic characteristics from various large cities across the United States to be in a study. Each
study participant is asked to keep a log beginning one month before Valentine’s Day and record all
purchases made for Valentine’s Day during that one-month period. The resulting data are shown
below. Use these data and a 1% level of signi?cance to test to determine if, on average, men actually
do spend signi?cantly more than women on Valentine’s Day. Assume that such spending is normally
distributed in the population and that the population variances are equal.
Men Women
107.48 125.98
143.61 45.53
90.19 56.35
125.53 80.62
70.79 46.37
83.00 44.34
129.63 75.21
154.22 68.48
93.80 85.84
126.11

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more