A study of the career paths of hotel general managers šent questionnalres to an SRS 210 notels Delonging to major Chains There were 95 responses. The average time these 95 general managers had spent with their current company was 11.96 years. Take it as known that the standard deviation of time with the company for all general managers is 1.7 years. Give your answers to at least 2 decimal places, and use at least 3 decimal places in your critical value. (a) Find the margin of error for an 85% confidence interval to estimate the mean time a general manager had spent with their current company: years (b) Find the margin of error for a 99% confidence interval to estimate the mean time a general manager had spent with their current company: years (c) In general, increasing the confidence level the margin of error (width) of the confidence interval. (Enter: "DECREASES", "DOES NOT CHANGE" or "INCREASES", without the quotes.)
A study of the career paths of hotel general managers šent questionnalres to an SRS 210 notels Delonging to major Chains There were 95 responses. The average time these 95 general managers had spent with their current company was 11.96 years. Take it as known that the standard deviation of time with the company for all general managers is 1.7 years. Give your answers to at least 2 decimal places, and use at least 3 decimal places in your critical value. (a) Find the margin of error for an 85% confidence interval to estimate the mean time a general manager had spent with their current company: years (b) Find the margin of error for a 99% confidence interval to estimate the mean time a general manager had spent with their current company: years (c) In general, increasing the confidence level the margin of error (width) of the confidence interval. (Enter: "DECREASES", "DOES NOT CHANGE" or "INCREASES", without the quotes.)
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![### Study of Career Paths of Hotel General Managers
**Introduction:**
A study investigated the career paths of hotel general managers by distributing questionnaires to a simple random sample (SRS) of 210 hotels that are part of major U.S. hotel chains. From this sample, 95 responses were obtained. The findings revealed that the average time these 95 general managers had spent with their current company was 11.96 years. Assume that the standard deviation of the time spent with the company for all general managers is 1.7 years. When calculating your answers, ensure you use at least two decimal places, and utilize at least three decimal places in your critical value calculations.
**Tasks:**
(a) **Margin of Error for 85% Confidence Interval**
Find the margin of error for an 85% confidence interval to estimate the mean time a general manager had spent with their current company:
[Text box for answer in years]
(b) **Margin of Error for 99% Confidence Interval**
Find the margin of error for a 99% confidence interval to estimate the mean time a general manager had spent with their current company:
[Text box for answer in years]
(c) **Effect of Increasing Confidence Level**
In general, increasing the confidence level _______ the margin of error (width) of the confidence interval. (Enter: "DECREASES", "DOES NOT CHANGE", or "INCREASES", without the quotes.)
[Text box for answer]
**Notes:**
- Ensure the critical values are accurately calculated with precision, considering the required confidence level and sample size.
- Consider the effects of different confidence levels on the margin of error while crafting responses.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa70a12d4-88d2-4e1f-8545-6de24188f77d%2Fd971bb09-33be-4b2a-b166-d639b0e68a50%2Fdu2oa0h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:### Study of Career Paths of Hotel General Managers
**Introduction:**
A study investigated the career paths of hotel general managers by distributing questionnaires to a simple random sample (SRS) of 210 hotels that are part of major U.S. hotel chains. From this sample, 95 responses were obtained. The findings revealed that the average time these 95 general managers had spent with their current company was 11.96 years. Assume that the standard deviation of the time spent with the company for all general managers is 1.7 years. When calculating your answers, ensure you use at least two decimal places, and utilize at least three decimal places in your critical value calculations.
**Tasks:**
(a) **Margin of Error for 85% Confidence Interval**
Find the margin of error for an 85% confidence interval to estimate the mean time a general manager had spent with their current company:
[Text box for answer in years]
(b) **Margin of Error for 99% Confidence Interval**
Find the margin of error for a 99% confidence interval to estimate the mean time a general manager had spent with their current company:
[Text box for answer in years]
(c) **Effect of Increasing Confidence Level**
In general, increasing the confidence level _______ the margin of error (width) of the confidence interval. (Enter: "DECREASES", "DOES NOT CHANGE", or "INCREASES", without the quotes.)
[Text box for answer]
**Notes:**
- Ensure the critical values are accurately calculated with precision, considering the required confidence level and sample size.
- Consider the effects of different confidence levels on the margin of error while crafting responses.
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