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 one thousand dollars per employee) for representative companies in financial services. Assume σ ≈ 10.7 thousand dollars.50.925.746.748.150.234.136.241.842.533.033.636.927.047.133.828.128.529.136.536.126.927.828.829.331.531.731.138.032.031.732.923.154.943.836.931.925.523.229.822.326.526.7(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 dollarsupper limit    thousand dollars

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Asked Oct 30, 2019
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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 one thousand dollars per employee) for representative companies in financial services. Assume σ ≈ 10.7 thousand dollars.

50.9 25.7 46.7 48.1 50.2 34.1 36.2 41.8 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
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Expert Answer

Step 1

The provided information is:

Assume that X is defined as annual profit per e...

ΣΧ
50.9 25.7.+26.5 26.7
Sample mean (X
42
n
=34.1
Population standard deviation(o) =10.7
Sample size (n) 42
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ΣΧ 50.9 25.7.+26.5 26.7 Sample mean (X 42 n =34.1 Population standard deviation(o) =10.7 Sample size (n) 42

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