Weekly Income of Private Industry Information Workers The average weekly income of information workers in private industry is $777. If the standard deviation is $77, what is the probability that a random sample of 50 information workers will earn, on average, more than $800 per week? a. 0.4334 b. 0.6174- OC. 0.3826 O d. 0.0173

Weekly Income of Private Industry Information Workers The average weekly income of information workers in private industry is $777. If the standard deviation is $77, what is the probability that a random sample of 50 information workers will earn, on average, more than $800 per week? a. 0.4334 b. 0.6174- OC. 0.3826 O d. 0.0173

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter2: Descriptive Statistics

Section: Chapter Questions

Problem 18P: The average time that Americans commute to work is 27.7 minutes (Sterlings Best Places, April 13,...

See similar textbooks

Similar questions

The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that entry-level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011. Assume that the standard deviation for male graduates is $2.30, and for female graduates it is $2.05. What is the sampling distribution of for a random sample of 50 male college graduates? What is the sampling distribution of for a random sample of 50 female college graduates? In which of the preceding two cases, part (a) or part (b), is the standard error of smaller? Why?
Assume that the traffic to the web site of Smileys People, Inc., which sells customized T-shirts, follows a normal distribution, with a mean of 4.5 million visitors per day and a standard deviation of 820,000 visitors per day. a. What is the probability that the web site has fewer than 5 million visitors in a single day? b. What is the probability that the web site has 3 million or more visitors in a single day? c. What is the probability that the web site has between 3 million and 4 million visitors in a single day? d. Assume that 85% of the time, the Smileys People web servers can handle the daily web traffic volume without purchasing additional server capacity. What is the amount of web traffic that will require Smileys People to purchase additional server capacity?
Use the labour market information given below to answer the following questions: * Total opulation = 10 milliol Working - a * ge population = 7.5 million Labour force = 6 million Unemployed = 1 million Calculate the number of individuals (in millions) not in the labour force. a) 2.5 b) 1 c) 1.5 d ) 4.0
With an assumption that the volatility of Waste Management (WM) is 1.86% per day, corresponding to ______ per week, ______ per month, and ______ per year. A. 4.16% / 8.52% / 35.54% B. 4.16% / 8.52% / 29.53% C. 4.16% / 10.19% / 35.54% D. 4.92% / 10.19% / 29.53%
Consider a telecommunication service provider. You have the following quarterly data: STATISTICS TYPICAL CONSUMER Number of referrals per period (n=n1+ n2) 5 of which, customers that joined due to the referral (n1) 3 of which, customers that would have joined anyway (n2) 2 Marketing cost per period (Mty) $30 Average gross margin (Aty) $78 Cost of referral (aty) $15 Acquisition cost savings (ACQ1ty and ACQ2ty) $10 Yearly discount rate (r) 15% Calculate CRV of a typical customer for one year (over 4 quarters).
The managing director of a law firm has the monthly data (below) on total overhea labor hours to bill to clients. Develop a simple linear regression model between bi costs. \table [[\table[[Overhead], [Costs]], \table [[Billable], [Hours ]]], [375000, 3000], [425000, 4000], [445000, 5000], [496000, 6000], [580000, 7000], [605000, 8000]] Round the coefficient to two decimal places, do not include the $ symbol. For ea billable hours, the predicted overhead costs are estimated to increase by 109.12
Assume you have asked your data folks to determine the relationship between customer service scores (i.e. the ratings provided by customers in response to a survey) and profit. The analyst reports the following: "I gathered data for the last 48 months and ran a regression where profit in a given month is the dependent variable and customer service score in that same month is the independent variable. I found an intercept of $10,000 (p-value: 0.31) and the coefficient on customer service score is $1,200 (p-value: 0.22). The R-2 (which is appropriate when there is just one independent variable) is 0.07." What do you infer from the results (two to three sentences, sticking to the information provided) and why?
The percent frequency distributions of job satisfaction scores for a sample of information systems (IS) senior executives and middle managers are as follows. The scores range from a low of 1 (very dissatisfied) to a high of 5 (very satisfied). Develop a probability distribution for the job satisfaction score of a randomly selected senior executive. Develop a probability distribution for the job satisfaction score of a randomly selected middle manager. What is the probability that a randomly selected senior executive will report a job satisfaction score of 4 or 5? What is the probability that a randomly selected middle manager is very satisfied? Compare the overall job satisfaction of senior executives and middle managers.
If you are the CEO and you give your employees a bonus at the end the year, according to their net income during the year. When prices are rising would you choose FIFO or Weighted average cost flow assumption. 1. EXAMPLE 2. EXAMPLE WITH NET INCOME 3. SHOW HOW THE CALCULATION IS DONE
47-Assume that you are working as an Accounting manager in Nizwa SAOG. One of your senior manager provided you the following data and asked you to find out the P/v ratio. Total production for the year 50000 units and closing stock at the end of the year 20,000 units . Fixed expenses OMR. 5000 and Break-even point OMR. 15,000 and selling price per unit OMR 1.500. O a. 2 O b. 0.77 O c. 0.16 O d. None of the given options
The results of a national survey showed that on average, adults sleep 6.9 hours per night. Suppose that the standard deviation is 1.2 hours and that the number of hours of sleep follows a bell-shaped distribution. a. Use the empirical rule to calculate the percentage of individuals who sleep between 4.5 and 9.3 hours per day. b. What is the z-value for an adult who sleeps 8 hours per night? c. What is the z-value for an adult who sleeps 6 hours per night?
Calculate the ROI for Gardner Chemical given the following information: A. 25% B. 24% C. 60% D. 40%