Answered: Jobs and productivity! How do banks…

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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Question

Jobs and productivity! How do banks rate? One way to answer this question is to examine annual profits per employee. The following is data about annual profits per employee (in units of 1 thousand dollars per employee) for representative companies in financial services. Assume ? ≈ 9.7 thousand dollars.

43.9	36.2	29.9	59.3	39.0	56.5	52.3	40.4	42.5	33.0	33.6
36.9	27.0	47.1	33.8	28.1	28.5	29.1	36.5	36.1	26.9	27.8
28.8	29.3	31.5	31.7	31.1	38.0	32.0	31.7	32.9	23.1	54.9
43.8	36.9	31.9	25.5	23.2	29.8	22.3	26.5	26.7

(a) Use a calculator or appropriate computer software to find x for the preceding data. (Round your answer to two decimal places.)
________thousand dollars

(b) Let us say that the preceding data are representative of the entire sector of (successful) financial services corporations. Find a 75% confidence interval for ?, the average annual profit per employee for all successful banks. (Round your answers to two decimal places.)

lower limit	_________thousand dollars
upper limit	_________thousand dollars

(c) Find a 90% confidence interval for ?, the average annual profit per employee for all successful banks. (Round your answers to two decimal places.)