Jobs and productivity! How do retail stores rate? One way to answer this question is to examine annual profits per emplo
Posted: Tue Jul 05, 2022 9:56 am
Jobs and productivity! How do retail stores rate? One way toanswer this question is to examine annual profits per employee. Thefollowing data give annual profits per employee (in units of 1thousanddollars per employee) for companies in retail sales.Assume 𝜎 ≈ 4.6 thousand dollars.
3.7
6.4
3.7
8.5
8.3
5.1
8.9
5.9
−1.1
4.9
2.7
5.0
(a) Find x for the preceding data. (Roundyour answer to two decimal places.) thousand dollars per employee (b) Let us say that the preceding data are representative of theentire sector of retail sales companies. Find an 80% confidenceinterval for 𝜇, the average annual profit per employee forretail sales. (Round your answers to two decimal places.)
(c) Find an 95% confidence interval for 𝜇, the average annualprofit per employee for retail sales. (Round your answers to twodecimal places.)
3.7
6.4
3.7
8.5
8.3
5.1
8.9
5.9
−1.1
4.9
2.7
5.0
(a) Find x for the preceding data. (Roundyour answer to two decimal places.) thousand dollars per employee (b) Let us say that the preceding data are representative of theentire sector of retail sales companies. Find an 80% confidenceinterval for 𝜇, the average annual profit per employee forretail sales. (Round your answers to two decimal places.)
(c) Find an 95% confidence interval for 𝜇, the average annualprofit per employee for retail sales. (Round your answers to twodecimal places.)