QUESTION 9The Department of Trade and Industry (DTI) conducted a survey to estimate the average number of employees per small and medium-sized enterprises (SME) in Free State. For a random sample of 144 SMEs in Free State, the DTI found that the average number of employees was 24.4. Assume that the population standard deviation is 10.8 employees and that the number of employees per SME is normally distributed. Using this information and rounding off the z or t values that you derive to 2 decimal places, the 95% confidence interval of the average number of employees per SME in Free State is for the lower limit andfor the upper limit. (Note: write your final answers to 3 decimal places and when writing your answer use "." (3.250) instead of "," (3,250) with no spaces between digits).

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Description: QUESTION 9The Department of Trade and Industry (DTI) conducted a survey to estimate the average number of employees per small and medium-sized enterprises (SME) in Free State. For a random sample of 144 SMEs in Free State, the DTI found that the aver

100(1-α)% confidence interval:

Answered: The Department of Trade and Industry…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

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Problem 1P

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QUESTION 9

The Department of Trade and Industry (DTI) conducted a survey to estimate the average number of employees per small and medium-sized enterprises (SME) in Free State. For a random sample of 144 SMEs in Free State, the DTI found that the average number of employees was 24.4. Assume that the population standard deviation is 10.8 employees and that the number of employees per SME is normally distributed. Using this information and rounding off the z or t values that you derive to 2 decimal places, the 95% confidence interval of the average number of employees per SME in Free State is for the lower limit andfor the upper limit. (Note: write your final answers to 3 decimal places and when writing your answer use "." (3.250) instead of "," (3,250) with no spaces between digits).

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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