A recent survey asked 47 randomly selected employees how long they had been employed at their current job. The mean was 4.6 years and the standard deviation was 2.3 years.What is the point estimate for the mean length of current employment?Check the requirements for constructing a confidence interval for a population proportion.Construct the 90% confidence interval for mean length of current employment. Round the results to 1 decimal place.

Given Data: x¯=4.6s=2.3n=47 1. Point estimate Point estimate=4.62. Requirements for Confidence Interval: Sample mean, Sample standard deviation, Sample size, t-value t-value for 90% Confidence Interval=1.683. 90% Confidence Interval for population mean: x¯±t×sn4.6±1.68×2.347(4.0, 5.2) Therefore, 90% Confidence Interval is (4.0, 5.2)

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

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A recent survey asked 47 randomly selected employees how long they had been employed at their current job. The mean was 4.6 years and the standard deviation was 2.3 years.

What is the point estimate for the mean length of current employment?
Check the requirements for constructing a confidence interval for a population proportion.
Construct the 90% confidence interval for mean length of current employment. Round the results to 1 decimal place.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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