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Question:5 What is meant by the standard error of the mean? What is meant by a Type...

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Statistics

Question:5

  1. What is meant by the standard error of the mean?
  2. What is meant by a Type I and a Type II error?
  3. What is the difference between a one and two tail test?

  1. In September 2019, a Travel Agent used a random sample of 36holiday makers to find out the average cost per person of a oneweek holiday in Queen Elizabeth National Park. The followinginformation was found:

September 2019

         Mean                      $372.40

         Standarddeviation $26.10

         Sample size36

In the previous year the average cost of each holiday was$356.20.

  1. Test whether the cost of a one week holiday to Queen ElizabethNational Park has increased significantly since the previousyear.
  2. The company based its views on customer satisfaction from theletters it receives. In the previous year, 68% of the letters itreceived were of a positive nature.

The company wishes to adopt a morescientific approach to estimating customer satisfaction.

What sample size would be needed toestimate the proportion of customers’ views to within 2% of thetrue figure at the 95% confidence limit andInterval                                  

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