Question

When the economy is good and employees don’t have much loyalty to their employer,people frequently start looking for better paying jobs. One number that is looked at for corporations is turnover ratio. For instance, if the turnover ratio for a company is 2.0, that means that there is a complete turnover of employees in two years. A high turnover ratio is preferred in some industries, such as with high tech companies. A random sample of 20 firms in the same industry is taken, and the turnover ratio was computed for each:

2.4, 14.0, 1.6, 8.0, 2.8, 5.4, 5.2, 1.8, 8.8, 2.8, 4.0, 2.0, 1.6, 3.4, 2.6, 4.4, 1.6, 2.6, 4.8, 3.8

find the interval estimates for a mean or median using a 95% confidence for 1-3 below.
1. Robust

2. Parametric

3. Nonparametric (Walsh Averages)

Show work for 1-3.

Answer 1

Estimates for a mean using a 95% confidence.:

Using t Test (Parametric):

One-Sample T: Sample

Variable N Mean StDev SE Mean    95% CI
Sample 20 4.180 3.065 0.685    (2.746, 5.614)

Estimates for a Median using a 95% confidence.:

Wilcoxon Signed Rank (NonParametric):

Wilcoxon Signed Rank CI: Sample

   Confidence
Estimated Achieved    Interval
N Median Confidence    Lower Upper
Sample 20 3.50 95.0   2.70 5.20

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