Question
Jobs and productivity! How do retail stores rate? One way to answer this question is to...
Jobs and productivity! How do retail stores rate? One way to answer this question is to examine annual profits per employee. The following data give annual profits per employee (in units of 1 thousand dollars per employee) for companies in retail sales. Assume σ ≈ 3.7 thousand dollars.
|
4.1 |
6.6 |
4.4 |
8.7 |
8.1 |
5.7 |
8.8 |
5.7 |
2.6 |
2.9 |
8.1 |
−1.9 |
|
11.9 |
8.2 |
6.4 |
4.7 |
5.5 |
4.8 |
3.0 |
4.3 |
−6.0 |
1.5 |
2.9 |
4.8 |
|
−1.7 |
9.4 |
5.5 |
5.8 |
4.7 |
6.2 |
15.0 |
4.1 |
3.7 |
5.1 |
4.2 |
(a) Use a calculator or appropriate computer software to find x for the preceding data. (Round your answer to two decimal places.)
___________thousand dollars per employee
(b) Let us say that the preceding data are representative of the
entire sector of retail sales companies. Find an 80% confidence
interval for μ, the average annual profit per employee for
retail sales. (Round your answers to two decimal places.)
| lower limit _______ | thousand dollars |
| upper limit________ |
thousand dollars |
Homework Answers
Answer #1
Answer :-
- Given jobs and productivity one way to answer this question to examine annual profits per employee.
- Annual profits per employee for companies in retail sales
a)
* Use a calculator(or) appropriate computer software to find X for the pending data.
At
90% confidence interval theoritical value is
- The pending data are representative of the entire sector of retail sales companies.
- An 80% confidence interval for M Average annual profit per employee for retail sales.
At 50% confidence interval the critical value is
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