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Author Question: Nancy Joon, Inc has 1500 employees. A simple random sample of 81 employees was selected, and the ... (Read 54 times)

elizabeth18

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on: Jun 24, 2018
Nancy Joon, Inc has 1500 employees. A simple random sample of 81 employees was selected, and the individuals in the sample were asked how much they contribute (monthly) to their retirement accounts. The sample mean, , was 150 with a standard deviation, s, of 45.
 a. Estimate the standard error of the mean.
  b. Develop an approximate 95 confidence interval for the population mean.

Question 2

A measure of the average value of a random variable is called a(n) _____.
 a. variance
  b. standard deviation
  c. expected value
  d. None of the answers is correct.


Joc

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Reply #1 on: Jun 24, 2018
Answer to Question 1

a. 4.86 (rounded)
b. 140.28 to 159.72

Answer to Question 2

c


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