Question

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 ≈ 3.8 thousand dollars.

4.0 6.2 3.8 9.0 8.0 5.1 8.4 6.5 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

(c) Find an 95% 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 |

Answer #1

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 one
thousand dollars per employee) for companies in retail sales.
Assume σ ≈ 3.8 thousand dollars.
4.0
6.9
4.5
9.0
7.5
5.8
8.2
5.6
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...

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 one
thousand dollars per employee) for companies in retail sales.
Assume σ ≈ 3.7 thousand dollars.
3.5
6.6
3.6
9.0
7.7
5.1
8.6
6.3
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...

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 one
thousand dollars per employee) for companies in retail sales.
Assume σ ≈ 3.6 thousand dollars.
4.4
6.0
4.5
8.4
8.5
5.0
9.0
6.5
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...

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 ? ? 3.7 thousand dollars.
4.5
6.2
4.3
8.7
8.1
5.7
9.0
6.4
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...

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 ≈ 4.0 thousand dollars.
3.8
6.5
4.3
8.9
7.5
5.7
8.5
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...

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 ≈ 4.2 thousand dollars. 3.5 6.7 3.6 8.1 7.6 5.7 8.8 6.0
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...

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 one
thousand dollars per employee) for companies in retail sales.
Assume ? ? 3.6 thousand dollars.
3.7
6.9
3.6
8.0
7.5
5.4
8.8
5.5
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...

A.) What price do farmers get for their watermelon crops? In the
third week of July, a random sample of 42 farming regions gave a
sample mean of x = $6.88 per 100 pounds of watermelon.
Assume that ? is known to be $1.98 per 100 pounds.
Find the sample size necessary for a 90% confidence level with
maximal error of estimate E = 0.45 for the mean price per
100 pounds of watermelon. (Round up to the nearest whole...

Jobs and productivity! How do banks rate? One way to answer this
question is to examine annual profits per employee. The following
is data about annual profits per employee (in units of 1
thousanddollars per employee) for representative companies in
financial services. Assume ? ? 9.9 thousanddollars.
54.4
45.3
48.8
60.0
31.3
39.0
29.9
44.6
42.5
33.0
33.6
36.9
27.0
47.1
33.8
28.1
28.5
29.1
36.5
36.1
26.9
27.8
28.8
29.3
31.5
31.7
31.1
38.0
32.0
31.7
32.9
23.1
54.9...

Jobs and productivity! How do banks rate? One way to answer this
question is to examine annual profits per employee. The following
is data about annual profits per employee (in units of 1 thousand
dollars per employee) for representative companies in financial
services. Assume σ ≈ 10.2 thousand dollars.
25.7
39.0
34.8
25.7
58.6
45.3
34.1
39.7
42.5
33.0
33.6
36.9
27.0
47.1
33.8
28.1
28.5
29.1
36.5
36.1
26.9
27.8
28.8
29.3
31.5
31.7
31.1
38.0
32.0
31.7
32.9...

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