Jobs and productivity! How do retail stores rate? One way to answer this question is to examine annual profits per employee. The following data give dollars per employee) for companies in retail sales. Assume a 5.4 thousand dollars. 4.4 6.9 3.7 8.9 8.3 5.3 9.0 6.2 -1.5 4.9 2.8 5.2 (a) Find x for the preceding data. (Round your answer to two decimal places.) thousand dollars per employee (b) Let us say that the preceding data are representative of the entire sector of retail sales companies. Find an 80% confidence interval for u, the average annual profit per employee for retail sal (Round your answers to two decimal places.) lower limit thousand dollars upper limit thousand dollars (c) Find an 95% confidence interval for μ, the average annual profit per employee for retail sales. (Round your answers to two decimal places.). lower limit thousand dollars upper limit thousand dollars

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
Jobs and productivity! How do retail stores rate? One way to answer this question is to examine annual profits per employee. The following data give annual profits per employee (in units of 1 thousand
dollars per employee) for companies in retail sales. Assume o 5.4 thousand dollars.
4.4 6.9 3.7 8.9 8.3 5.3 9.0 6.2 -1.5 4.9 2.8 5.2
(a) Find x for the preceding data. (Round your answer to two decimal places.)
thousand dollars per employee
(b) Let us say that the preceding data are representative of the entire sector of retail sales companies. Find an 80% confidence interval for μ, the average annual profit per employee for retail sales.
(Round your answers to two decimal places.)
lower limit
thousand dollars
upper limit
thousand dollars
(c) Find an 95% confidence interval for μ, the average annual profit per employee for retail sales. (Round your answers to two decimal places.)
lower limit
thousand dollars
upper limit
thousand dollars
Transcribed Image Text:Jobs and productivity! How do retail stores rate? One way to answer this question is to examine annual profits per employee. The following data give annual profits per employee (in units of 1 thousand dollars per employee) for companies in retail sales. Assume o 5.4 thousand dollars. 4.4 6.9 3.7 8.9 8.3 5.3 9.0 6.2 -1.5 4.9 2.8 5.2 (a) Find x for the preceding data. (Round your answer to two decimal places.) thousand dollars per employee (b) Let us say that the preceding data are representative of the entire sector of retail sales companies. Find an 80% confidence interval for μ, the average annual profit per employee for retail sales. (Round your answers to two decimal places.) lower limit thousand dollars upper limit thousand dollars (c) Find an 95% confidence interval for μ, the average annual profit per employee for retail sales. (Round your answers to two decimal places.) lower limit thousand dollars upper limit thousand dollars
Expert Solution
steps

Step by step

Solved in 5 steps with 21 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman