Question

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 |

Step 1

The provided information is:

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

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