It has been found that 14% of customers of an online retail store wait longer than five days for their order to be delivered. We assume normal distribution, and randomly select 115 customers. Q.6.2.1Determine the standard error for this sample. Q.6.2.2What is the probability that, for the sample of 115 customers, the proportion who wait longer than five days for their order to be delivered is less than13.75%? Interpret your answer.

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Answered: What is the probability that, for the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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It has been found that 14% of customers of an online retail store wait longer than five days for their order to be delivered. We assume normal distribution, and randomly select 115 customers.

Q.6.2.1	Determine the standard error for this sample.

Q.6.2.2	What is the probability that, for the sample of 115 customers, the proportion who wait longer than five days for their order to be delivered is less than 13.75%? Interpret your answer.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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