**Problem 4 - Big Salary for the Boss**Following is the total compensation, in millions of dollars, for Chief Executive Officers (CEOs) at 20 large U.S. corporations in a recent year.```2.75, 9.15, 2.32, 23.84, 13.12, 9.91, 6.39, 2.19, 4.28, 0.70, 3.18, 8.20, 1.65, 4.64, 6.05, 6.59, 11.31, 25.84, 2.85, 2.85```A research firm would like to analyze the mean compensation of CEOs in the U.S. and has decided to construct a 99% confidence interval to estimate the mean compensation amount.a. **Explain why it is necessary to check whether the population is approximately normal before constructing a confidence interval.**b. **Construct a box plot of these data using Excel.** This box plot should be on your Excel file with appropriate formatting and labels.c. **Is it reasonable to assume that this sample came from a normal population?** Explain.d. **If appropriate, construct a 99% confidence interval for the mean compensation of a CEO in the U.S. using Excel procedures similar to those used in the previous problems.** If it is not appropriate to construct the confidence interval, then explain why it is not appropriate.

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The table shows the annual compensation of 40 randomly chosen CEOs (millions of dollars). 5.33 18.3 24.55 9.08 12.22 5.52 2.01 3.81 192.92 17.83 23.77 8.7 11.15 4.87 1.72 3.72 66.08 15.41 22.59 6.75 9.97 4.83 1.29 3.72 28.09 12.32 19.55 5.55 9.19 3.83 0.79 2.79 34.91 13.95 20.77 6.47 9.63 4.47 1.01 3.07 Identify any unusual values. (Round your answers to 2 decimal places.) _____ Million _____Million
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The following data represent the monthly phone use, in minutes, of a customer enrolled in a fraud prevention program for the past 20 months. The phone company decides to use the upper fence as the cutoff point for the number of minutes at which the customer should be contacted. What is the cutoff point? The cutoff point is minutes. (Round to the nearest minute.)
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2.2 According to Watch Corporation, its watches usually gain or lose time over the course of a week. The following weekly gains (+) or losses (-) in seconds were recorded by a sample of 18 watches. -0.38 -0.20 -0.38 -0.32 -0.37 -0.61 -0.48 -0.47 Your answer +0.32 -0.64 -0.23 +0.30 -0.04 -0.20 Your answer +0.25 -0.68 State the null and the alternate hypotheses whether the mean gain or loss in time for the watches is 0 or not? -0.10 +0.05 By from 2.2 Is it reasonable to conclude that the mean gain or loss in time for the watches is 0? Use the .05 significance level. How do you know that?
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The table below represents the number of portable household generators sold by 20 Gauteng-based enterprises in the fourth quarter of 2022. 35 50 66 45 25 79 31 42 19 41 5 75 62 48 69 56 83 45 39 98 Given that the average selling price of a portable household generator was R15, 000 during the fourth quarter of 2022, what is the expected total revenue generated from the sale of the portable household generators by all the enterprises that sold at least 60 portable household generators during the quarter? Using the raw data, determine the standard deviation and coefficient of variation of the sample data. Given that the average selling price of a portable household generator was R15, 000 during the fourth quarter of 2022, what is the expected total revenue generated from the sale of the portable household generators by all the enterprises that sold at least 60 portable household generators during the quarter? 2. To extract…
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The table shows the annual compensation of 40 randomly chosen CEOS (millions of dollars). 5.54 1.88 17.40 15.42 12.03 13.03 25.31 25.19 25.79 20.28 20.74 7.31 7.45 6.23 4.61 6.44 13.90 10.15 9.10 8.15 8.94 5.82 192.84 84.66 25.86 33.46 2.61 2.66 1.22 3.95 15.58 4.79 3.71 4.56 4.33 4.33 4.79 2.06 0.93 1.29 Click here for the Excel Data File (a) Select the correct histogram for the above data. Histogram A Histogram B Histogram C Histogram 40 Histogram 35 40 Histogram 30 35 40 25 30 35 20 25 30 15 20 25 10 15 20 10 15 10 5 180 Compensation 120 180 120 140 160 180 Compensation Compensation O Histogram A O Histogram B O Histogram C (b) Describe the shape of the histogram. O The distribution is skewed to the right. O The distribution is symmetric. O The distribution is skewed to the left. ( Prev 5 of 19 Next > Percent Percent 140 091 Percent

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