Reference no: EM13968625
1. An executive placement service needs to estimate the average salary of exec- utives placed in a given industry. A random sample of 40 executives gives x = $42,539 and s = $11,690. Give a 90% con?dence interval for the average salary of an executive placed in this industry.
2. The following is a random sample of the wealth, in billions of U.S. dollars, of individuals listed on the Forbes "Billionaires" list for 2007.8
2.1, 5.8, 7.3, 33.0, 2.0, 8.4, 11.0, 18.4, 4.3, 4.5, 6.0, 13.3, 12.8, 3.6, 2.4, 1.0
Construct a 90% con?dence interval for the average wealth in $ billions for the people on the Forbes list.
3. For advertising purposes, the Beef Industry Council needs to estimate the average caloric content of 3-ounce top loin steak cuts. A random sample of 400 pieces gives a sample mean of 212 calories and a sample standard deviation of 38 calories. Give a 95% con?dence interval for the average caloric content of a 3-ounce cut of top loin steak. Also give a 98% con?dence interval for the average caloric content of a cut.
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Estimate the average amount of an account
: An accountant wants to estimate the average amount of an account of a ser- vice company. A random sample of 46 accounts yields x = $16.50 and s = $2.20. Give a 95% con?dence interval for the average amount of an account.
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How do you perceive changes in social stereotypes
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Con?dence interval for the average transit time
: A transportation company wants to estimate the average length of time goods are in transit across the country. A random sample of 20 shipments gives x = 2.6 days and s = 0.4 day. Give a 99% con?dence interval for the average transit time.
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What are the costs and benefits for management
: What are the costs and benefits for management of allowing the union to decide how the economic package (compensation and benefits) should be divided
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Interval for the average caloric content
: Give a 95% con?dence interval for the average caloric content of a 3-ounce cut of top loin steak. Also give a 98% con?dence interval for the average caloric content of a cut.
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Con?dence interval for the population average
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What management should do to obtain highest expected value
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What role does perception play in communication
: What role does perception play in communication? What causes conflict? How might individuals’ cultural values in the workplace be used to resolve conflict?
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Outsource the finishing process
: Fast Finish, Inc. (FFI) has made a technological breakthrough in snow board finish application, FFI will apply the finish for .23 per unit in variable costs plus a fixed annual cost of $230,000. Use the cost and demand information given in problem 3 ..
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