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 σ ≈ 4.3 thousand dollars. 4.3 6.1 3.5 8.2 7.7 5.1 8.0 6.5 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 μ, 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 σ ≈ 4.3 thousand dollars. 4.3 6.1 3.5 8.2 7.7 5.1 8.0 6.5 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 μ, the average annual profit per employee for retail sales. (Round your answers to two decimal places.) lower limit thousand dollars upper limit thousand dollars
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
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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 σ ≈ 4.3 thousand dollars.
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4.3
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6.1
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3.5
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8.2
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7.7
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5.1
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8.0
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6.5
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2.6
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2.9
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8.1
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−1.9
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11.9
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8.2
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6.4
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4.7
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5.5
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4.8
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3.0
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4.3
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−6.0
|
1.5
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2.9
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4.8
|
|
−1.7
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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 μ, the average annual profit per employee for retail sales. (Round your answers 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 μ, the average annual profit per employee for retail sales. (Round your answers to two decimal places.)
| lower limit | thousand dollars |
| upper limit | thousand dollars |
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