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 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 |
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 |
(e) 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 |
Homework Answers
Answer #1
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