Question

Annual salaries, in thousands of dollars, for a random sample of chemists at the Dull Chemical...

Annual salaries, in thousands of dollars, for a random sample of chemists at the Dull Chemical Company are 38, 43, 41, 49, 52. Assume that chemists' salaries are normally distributed.

(a) Find a 95% confidence interval estimate of the average salary for all chemists at the Dull Chemical Company. Show your work and calculations.

(b) A campus recruiter for Dull Chemical states to prospective employees that the mean annual salary for chemists at Dull is  = $47,000. Is the answer to Part (a) consistent with this statement, OR do you have strong evidence to deny this statement? Show your work and explain the reasoning behind your answer!

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The data is:

Data
38
43
41
49
52
Count 5
Mean 44.6
StDev 5.770615

(b)

Yes,  Part (a) consistent with this statement that  the campus recruiter for Dull Chemical states to prospective employees that the mean annual salary for chemists at Dull is $47,000. This is because 47 lies in the above 95% confidence interval.

Please let me know in comments in case anything is unclear. Will reply ASAP. Do upvote if satisfied!

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
At a large company, the salaries (y, in thousands of dollars) and years of experience (x)...
At a large company, the salaries (y, in thousands of dollars) and years of experience (x) of six randomly chosen engineers are: x (years) 6 7 9 10 13 15 y (salary) 44 41 43 45 51 49 Compute the least squares regression equation and use that equation to predict the salary (in thousands of dollars) of a new employee with 8 years of experience,
Sample annual salaries​ (in thousands of​ dollars) for employees at a company are listed. 43  44  ...
Sample annual salaries​ (in thousands of​ dollars) for employees at a company are listed. 43  44  55  50  38  38  43  44  55  32  50  43  53 ​(a) Find the sample mean and sample standard deviation. ​(b) Each employee in the sample is given a ​$5,000 raise. Find the sample mean and sample standard deviation for the revised data set. ​(c) Each employee in the sample takes a pay cut of ​$3,000 from their original salary. Find the sample mean...
sample annaul salaries (in thousands of dollars) for employees at a company are listed: 42,36,48,51,39,39,42,36,48,33,63,4245 Determine...
sample annaul salaries (in thousands of dollars) for employees at a company are listed: 42,36,48,51,39,39,42,36,48,33,63,4245 Determine the unbiased standard deviation. Use your calculator. Round your answer to 4 digits after the decimal. Do not show any work
Answer the following questions: 41.- Kathryn Holmes cumulative earnings are $45,000 and her gross pay for...
Answer the following questions: 41.- Kathryn Holmes cumulative earnings are $45,000 and her gross pay for the week is $500 if the FICA rates are Social Security 6.2% on a limit Security and FICA-Medicare taxes for the week? a) $31.00 $7.25 b) $310.00 $72.50 c) $3.10 $0.73 d) $25.50   $8.00 42.- The balance in the Salaries and Wages Payable account is equal to net pay True False 43.- The Federal Unemployment Tax is a) paid by the employer b) paid...
Read the attached articles about the proposed merger of Xerox and Fujifilm. Utilizing your knowledge of...
Read the attached articles about the proposed merger of Xerox and Fujifilm. Utilizing your knowledge of external and internal analysis, business and corporate strategy, and corporate governance, please discuss the following questions: 1. What is the corporate strategy behind the merger of Xerox and Fujifilm? 2. Why did Xerox agree to the merger? Is this a good deal for Xerox? Discuss the benefits and challenges they face with the merger. 3. Why did Fujifilm agree to the merger? Discuss the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT