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 ? ≈ 4.0 thousand dollars. 4.2 6.8 3.5 8.8 8.1 5.7 8.0 6.4 2.6 2.9 8.1 −1.9 11.9 8.2 6.4 4.7 5.5 4.8 3.0 4.3 −6.0 1.5 2.9 4.8 −1.7 9.4 5.5 5.8 4.7 6.2 15.0 4.1 3.7 5.1 4.2 (a) Use a calculator or appropriate computer software to 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 ?, 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 ?, the average annual profit per employee for retail sales. (Round your answers to two decimal places.) lower limit ______thousand dollars upper limit _______thousand dollars
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 ? ≈ 4.0 thousand dollars. 4.2 6.8 3.5 8.8 8.1 5.7 8.0 6.4 2.6 2.9 8.1 −1.9 11.9 8.2 6.4 4.7 5.5 4.8 3.0 4.3 −6.0 1.5 2.9 4.8 −1.7 9.4 5.5 5.8 4.7 6.2 15.0 4.1 3.7 5.1 4.2 (a) Use a calculator or appropriate computer software to 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 ?, 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 ?, 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
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 ? ≈ 4.0 thousand dollars.
|
4.2
|
6.8
|
3.5
|
8.8
|
8.1
|
5.7
|
8.0
|
6.4
|
2.6
|
2.9
|
8.1
|
−1.9
|
|
11.9
|
8.2
|
6.4
|
4.7
|
5.5
|
4.8
|
3.0
|
4.3
|
−6.0
|
1.5
|
2.9
|
4.8
|
|
−1.7
|
9.4
|
5.5
|
5.8
|
4.7
|
6.2
|
15.0
|
4.1
|
3.7
|
5.1
|
4.2
|
(a) Use a calculator or appropriate computer software to 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 ?, the average annual profit per employee for retail sales. (Round your answers to two decimal places.)
(b) Let us say that the preceding data are representative of the entire sector of retail sales companies. Find an 80% confidence interval for ?, 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 ?, 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
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
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
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
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
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
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
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman