A company takes a random sample of 60 salespeople and measures the yearly average amount of money generated by sales from each salesperson. The overall average amount for the company is $500,000 with a standard deviation of $30,000. a.What is the probability that the average sales amount from the sample is less than $495,000? b. What is the probability that the averag
A company takes a random sample of 60 salespeople and measures the yearly average amount of money generated by sales from each salesperson. The overall average amount for the company is $500,000 with a standard deviation of $30,000. a.What is the probability that the average sales amount from the sample is less than $495,000? b. What is the probability that the averag
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
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- A company takes a random sample of 60 salespeople and measures the yearly average amount of money generated by sales from each salesperson. The overall average amount for the company is $500,000 with a standard deviation of $30,000. a.What is the
probability that the average sales amount from the sample is less than $495,000?
b. What is the probability that the average sales amount from the sample is between $495,000 and $505,000?
c. If a single salesperson finishes the year in the top 15% of sales, they are awarded an extra week of vacation time. At least what sales amount must an individual employee achieve to earn the extra week of vacation? Assume the population distribution is approximately normal.
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