1. The following data shows the yearly income distribution of a sample of 200 employees at MNM, Inc. Yearly Income (In $1,000s) Number of Employees 20 - 24 2 25 - 29 48 30 - 34 60 35 - 39 80 40 - 44 10 ​ a. What percentage of employees have yearly incomes of $35,000 or more? b.  Does the figure computed in part a exemplify statistical inference? If no, what kind of statistical information does it represent? c. Based on this sample, the president of the company said that "45% of all our employees' yearly incomes are $35,000 or more." What kind of statistical information does the president's statement represent? d. With the statement made in Part c, can we be assured that more than 45% of all employees' yearly incomes are at least $35,000? Explain. e. What percentage of employees of the sample have yearly incomes of $29,000 or less? f. How many variables are presented in the above data set? g. How many observation results are represented in the above data set?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Topic Video
Question

 

1. The following data shows the yearly income distribution of a sample of 200 employees at MNM, Inc.

Yearly Income
(In $1,000s)

Number
of Employees

20 - 24

2

25 - 29

48

30 - 34

60

35 - 39

80

40 - 44

10

a.

What percentage of employees have yearly incomes of $35,000 or more?

b.

 Does the figure computed in part a exemplify statistical inference? If no, what kind of statistical information does it represent?

c.

Based on this sample, the president of the company said that "45% of all our employees' yearly incomes are $35,000 or more." What kind of statistical information does the president's statement represent?

d.

With the statement made in Part c, can we be assured that more than 45% of all employees' yearly incomes are at least $35,000? Explain.

e.

What percentage of employees of the sample have yearly incomes of $29,000 or less?

f.

How many variables are presented in the above data set?

g.

How many observation results are represented in the above data set?

 

 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

Letter (d) Would i be wrong if i said yes the data set consisting of the annual salary for each employee at the MNM company is a population since no employee salary is excluded from the data

Solution
Bartleby Expert
SEE SOLUTION
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Means
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman