Math

StatisticsQ&A LibraryJobs 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 ≈ 9.4 thousand dollars. 41.1 26.4 40.4 32.0 25.0 52.3 44.6 53.0 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 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 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 dollarsStart your trial now! First week only $4.99!*arrow_forward*

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 σ ≈ 9.4 thousand dollars.

41.1

26.4

40.4

32.0

25.0

52.3

44.6

53.0

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 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

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

Tagged in

Math

Statistics

Find answers to questions asked by students like you.

Q: A doctor measured serum HDL levels in her patients, and found that they were normally distributed wi...

A: Given serum HDL levels in patients are normally distributedmean = 62standard deviation = 3.6The Z sc...

Q: I don't understand how I find the z-score, without a table, the mean, or the standard deviation.

A: Solution: We are given the blow graph;

Q: How many ways are there to choose first, second, and third prizes in an art contest with 18 entries?

A: Introduction:According to the permutation rule, if r distinct items are to be chosen from n items wi...

Q: Assume that x has a normal distribution with the specified mean and standard deviation. Find the ind...

A: Given:Mean=28Standard deviation=3.4

Q: What does it mean for a regression line to be the "best-fit" line.

A: The form of the simple linear regression line is given by,

Q: 1. Given the data set: {3, 5, 6, 9, 4,7,4,2,3,9, 1, 3, 8} provide the following rounded to two decim...

A: Hey, since there are multiple questions posted, we will answer first question’s three sub part quest...

Q: Please show TI 84 steps

A: Note:Hey, since there are multiple sub-parts question posted, we will answer first three sub-parts. ...

Q: Possion Distribution The number of calls received by an office on Monday morning between 8:0...

A: Poisson distribution:It is a discrete probability distribution that describes the number of events o...

Q: Assume that a procedure yields a binomial distribution with a trial repeated n=13n=13 times. Use eit...

A: Giventotal number of trails = n = 13probability of success = p = 0.46To find the probability of 1 su...

Q: unrest and violence on one southern campus had descreased by 62% from 10 years ago. four out of ten ...

A: Population:The set of all subjects of interest can be termed as population.Sample:The subset of the ...

Q: Help

A: The number of possible batting orders are:

Q: What would the 95% confidence limits for a sample of 120 with a mean of 51 and a standard deviation ...

A: We are given:

Q: A(n) ________________________ distribution has mirror image sides such that if the distribution coul...

A: Skewness:The degree of symmetry of the distribution is called skewness. There are three measure of t...

Q: A random sample of 26 local sociology graduates scored an average of 458 on the GRE advancedsociolog...

A: From the provided information, there are 26 sample (N) with the average (x̄) score of 458 and standa...

Q: When an event is an independent event, its occurrence does not affect nor is it affected by another ...

A: If the event does not depend on the other events then the event can be termed as independent event.

Q: suppose an individual was studying temperature's effect on crime rate. The researcher looked at 6 ra...

A: Solution:The sample mean is obtained below:From the given information, number of observations is 6 a...

Q: 5. Suppose that the probability of obtaining zero defective items in a sample of 50 items off the as...

A: It is given that P(getting zero defective items) is 0.34 and P(getting 1 defective items) is 0.46.

Q: Consider a binominal experiment with 2 trials, and p=0.4 d. Find the probability of at least one suc...

A: In this context, X has a Binomial distribution with parameters n = 2 and p = 0.4. Since X is a discr...

Q: X+19=0 3

A: Hello there! You have posted the algebra question under statistics. Please make sure to post the que...

Q: Problem 29 d.

A: The null and alternative hypotheses are given below:H0: µ = 21.62Ha: µ ≠ 21.62Procedure to find samp...

Q: In a study to see if there is a relationship between students’ consumption of alcoholic beverages an...

A: As per question, there is relationship between student’s consumption of alcoholic beverages and thei...

Q: Find the mean of the data summarized in the given frequency distribution. 12) The highway speeds of ...

A: Mean for grouped data:The formula to find mean for grouped data is as follows:

Q: Given that z is a standard normal random distribution, find z for each situation The area to the ...

A: The area to the left of z is 0.9750From the standard normal distribution tableLocate the value 0.975...

Q: In this boxplot the numeric variable box office gross (sales) of films is plotted by the genre of th...

A: As per the questiona)From the box plot, Among the SciFi, Asian Market has the highest Inter Quantile...

Q: Below are the jersey numbers of 11 players randomly selected from a football team. Find the range, ...

A: Note: the sample size mentioned in the question is 11. But the given observation is greater than 11....

Q: Assume that different groups of couples use a particular method of gender selection and each couple ...

A: Introduction:Consider giving birth to a girl to be a success. The probability of success is, p = 0.5...

Q: What type of variable ( nominal or ordinal) is class?

A: Introduction::Nominal scale of measurement: A scale of measurement in which, the observations are ca...

Q: Problem 1: If X1, X2, ... , Xn are a random sample from a population with mean u and variance o2, us...

A: Introduction:The method of moments estimator equates the population moments with the corresponding s...

Q: Suppose x, the grade on a midterm exam, is normally distributed with mean 70 and standard deviation ...

A: It is given that the mean and standard deviation are 70 and 10, respectively.

Q: Please see picture

A: It is provided that X defined as random variable, follow the distribution of Benford’s Law.a)To show...

Q: A certain flight arrives on time 90 percent of the time. Suppose164 flights are randomly selected. U...

A: Hello welcome! According to our principles cannot answer more than three subparts in any question. S...

Q: Assume that adults have IQ scores that are normally distributed with a mean of μ=105 and a standard ...

A: It is given that IQ score of adults is normally distributed with mean 105 and standard deviation is ...

Q: An economist claims that the proportion of people who plan to purchase a fully electric vehicle as t...

A: From the given information the p-value is 0.026. Assume the level of significance as 0.05. the claim...

Q: Explain the difference between a simple random sample and a systematic sample. (Select all that appl...

A: In Simple random sample every sample of size n have equal chance of being included.In a systematic s...

Q: Reducing the frequency from the tails of a distribution will: increase the standard deviation. red...

A: Reducing the frequency from the tails of the distribution will lead to fall in the sample size or it...

Q: Find the z-scores that separate the middle 48%of the distribution from the area in the tails of th...

A: Computation of probability of the area above and below the 48% of the distribution from the area:Fro...

Q: A history class has 75 members. If there is a 12% absentee rate per class meeting, find the mean, va...

A: It is given that n is 75 and p is 0.12.

Q: novel pages- a random sample of 25 novels has a standard deviation of 9 pages. Find the 95% confide...

A: The sample standard deviation is 9.The sample size is 25.

Q: Please show TI 84 steps

A: It is given that margin of error (E) is 0.15 and the confidence level is 90%.Here,

Q: a manufacturer of bolts has a quality control policy that requires it to destroy any bolts that are ...

A: From the given information,Mean and standard deviations are 10cm and 0.10cm respectively.A manufactu...

Q: I cant find an example for how to solve this. Help would be so great! Thank you

A: Margin of error:The formula of margin of error for confidence interval is as follows:

Q: A standard six-sided die shows a number, 1, 2, 3, 4, 5, or 6, on each of its sides. You roll the die...

A: The sample space for the given experiment is S={1,2,3,4,5,6}Define the given events as,E={2,4,6} the...

Q: Let the random variable X be defined on the support set (1,2) with pdf fX(x) = (4/15)x3, Find the va...

A: The given pdf is shown below:

Q: I would like help with this application

A: Hey there! Thank you for posting the question. Since your question has more than 3 parts, we are sol...

Q: Scrapper Elevator Company has 20 sales representatives who sell its product throughout the United St...

A: a)the population distribution can be obtained as follows:Step-by-step procedure to obtain the popula...

Q: Statistics Question

A: a. State the null and alternative Hypotheses: Null Hypothesis: H0: There is no difference in means o...

Q: Selecting a card- when a card is drawn from a deck, find the probability of getting a. A diamond ...

A: Hey there! Thank you for posting the question. Since your question has more than 3 parts, we are sol...

Q: for a normal distribution with a mean of 7 and a stanard deviation of 6, the value 10 has a z value ...

A: It is given that mean and standard deviation are 7 and 6, respectively.

Q: Which of the following describes the effect of an increase in the variance of the difference scores...

A: It is given that the variance of the difference scores increases in a repeated measures design.

Q: Please show TI 84 steps

A: Computation of mean and standard deviation:Here, n=300; p̂=0.40; q̂=0.60 (=1−0.40).The mean and stan...