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 σ ≈ 9.1 thousand dollars. 52.3 56.5 39.0 32.0 43.2 49.5 35.5 37.6 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 (e) Find a 90% confidence interval for μ, the average annual profit per employee for all successful banks. (Round your answers to two decimal p
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Hi Please not i already asked the following questions twice and keep getting the wrong answer (the answer for the lower limit is not 32.07)
I dont want to keep using up all my questions for this thanks.
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 σ ≈ 9.1 thousand dollars.
| 52.3 | 56.5 | 39.0 | 32.0 | 43.2 | 49.5 | 35.5 | 37.6 | 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 |
(e) Find a 90% confidence interval for μ, 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 |
Note:
Hi there! Thank you for posting the question. Based on the given information, the answer for lower limit is 32.07. Here, the population standard deviation is known, so we use normal distribution. The confidence level is 0.9 and 42 data points are given. Based on this information, the confidence interval is obtained as given below. If the lower limit is not 32.07 means, any of the data points or the values of confidence level or population standard deviation might be submitted wrong.
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