Whenever using the t distribution for interval estimation (when the sample size is very small), we must assume that
a. the sample has a mean of at least 30
b. the sampling distribution is not normal
c. the population is approximately normal
d. the finite population correction factor is necessary
C
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Two major issues that contribute to consumers' hesitancy to use online shopping are ________.
A. privacy and security B. quality and computer knowledge C. quality and price D. computer knowledge and security E. price and privacy
If a distributor persuades a manufacturer to refuse to deal with a rival distributor, the two parties:
A. have committed a per se violation of Section 1 of the Sherman Act. B. do not violate Section 1 of the Sherman Act since this is a unilateral action. C. are attempting vertical price-fixing. D. are conspiring to form a monopoly, thus directly violating Section 2 of the Sherman Act.
Details that Suzanne and Shandra discovered about competitors in their market would most likely be analyzed in which section of a marketing plan?
A) executive summary B) measurement and controls C) marketing situation D) forecasting E) company description, purpose, and goals
The Winfield Distributing Company has maintained an 80% service level policy for inventory of string trimmers. Mean demand during lead time is 170 trimmers, and the standard deviation during lead time is 60 trimmers
The annual cost of carrying one trimmer in inventory is $6. The area sales people have recently told Winfield's management that they could expect a $400 improvement in profit (based on current figures of cost per trimmer) if the service level were increased to 99%. Is it worthwhile for Winfield to make this change?