Xyz grocery a large regional supermarket chain employs over

Assignment Help Basic Statistics

Reference no: EM13622419

xyz grocery a large regional supermarket chain employs over 9000 people. it has been claimed by the company that the mean age of all employees is 43.7 years with a standard deviation of 7.3 years. the company is thinking of introducing a new healthcare package. the insurance carrier that has been selected to underwrite this insurance wants to sample 80 employees for their age before quoting a price.

1. Describe the sampling distribution of the sample mean in terms of

a. Numerical value of its mean

b. The numerical value of its standard error of the mean

c. Its shape ( explan why)

2. Suppose a single random sample of size n = 80 employees was actually selected. it was calculated for this sample that the average age was 45.9 years. on the basis of the company supplied data, what is the chance of drawing a sample whose mean would be this large or larger?

3. Supose that a single random same of n=84 employees was selected what is the chance that the mean of this sample will be within 1.5 years either way of the population mean? what is the chance that the sample mean will be in the range betweeen 45.2 and 48.2 years?

4. On the basis of the probability calculated in part 2 above, what conclusion if any, can be reached about the truthfulness of the supermarket chain's claim about mean employee age? explain

Reference no: EM13622419

Questions Cloud

A bag contains 3 red marbles 4 green ones 1 lavender one 3 : a bag contains 3 red marbles 4 green ones 1 lavender one 3 yellows and 2 orange marbleshow many sets of five marbles

Two parallel plates of area 5 m2 are separated by a : two parallel plates of area 5 m2 are separated by a distance of 1.0 x 10-5m. they have charges on them of equal

A disk rotates about its central axis starting from rest : a disk rotates about its central axis starting from rest and accelerates with constant angular acceleration. at one

The cfo rejected the company to go private she believes : the cfo rejected the company to go private she believes that a large share repurchase program funded by issuing long

Xyz grocery a large regional supermarket chain employs over : xyz grocery a large regional supermarket chain employs over 9000 people. it has been claimed by the company that the

A new associate suggest to the cfo that the company : a new associate suggest to the cfo that the company undertake to raise private equity for the purpose of purchasing

A current i 28 a is then sent through the strip such that : a strip of copper 140 microm thick and 4.20 mm wide is placed in a uniform magnetic field of magnitude b 0.84 t that

What are the basic characteristics of a normal distribution : what are the basic characteristics of a normal distribution and the normal

In the 1980s the sampl industry was in crisis and the : in the 1980s the sampl industry was in crisis and the crisis required government intervention. from 2007 to 2009 the

User Account

All Pages