2.
value: 1.00 points
 
A small hair salon in Denver, Colorado, averages about 30 customers on weekdays with a standard deviation of 6. It is safe to assume that the underlying distribution is normal. In an attempt to increase the number of weekday customers, the manager offers a $2 discount on 5 consecutive weekdays. She reports that her strategy has worked since the sample mean of customers during this 5 weekday period jumps to 35. Use
http://lectures.mhhe.com/connect/0073361615/Table/table1.jpgTable 1.
a.
What is the probability to get a sample average of 35 or more customers if the manager had not offered the discount? (Round your intermediate calculations to 4 decimal places, “z” value to 2 decimal places, and final answer to 4 decimal places.)
 Probability
 
This is the webcite to the table
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4
In order to estimate the mean 30-year fixed mortgage rate for a home loan in the United States, a random sample of 28 recent loans is taken. The average calculated from this sample is 5.25%. It can be assumed that 30-year fixed mortgage rates are normally distributed with a standard deviation of 0.50%. Compute a 90% and a 99% confidence interval for the population mean 30-year fixed mortgage rate. Use
http://lectures.mhhe.com/connect/0073361615/Table/table1.jpgTable 1. (Round your intermediate calculations to 4 decimal places, “z” value and final answers to 2 decimal places.)
Confidence Level
Confidence Interval
90%
to  
99%
to ——-
http://lectures.mhhe.com/connect/0073361615/Table/table1.jpghttp://lectures.mhhe.com/connect/0073361615/Table/table1.jpg.
5. A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, it is taking longer than before to sell a house. The wife is concerned and wants to know when it is optimal to put their house on the market. They ask their…