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Title: A compensation specialist at a technology company wants to assess the competitiveness of the ... Post by: asprague24 on Aug 31, 2019 A compensation specialist at a technology company wants to assess the competitiveness of the salaries at his firm. He needs to know the mean salary of the firm's employees. He checks all the employee salaries using company records, and he used his computer to create a 95% confidence interval based on a t-distribution. This procedure was not appropriate. Why?
▸ The population standard deviation is known, so he should have used a z-model. ▸ Since these employees are from only one firm, the salaries may be skewed. ▸ The entire population of employees was gathered so there is no reason to do inference. ▸ At a given firm, employees are not randomly selected. ▸ The CEO's salary is probably an outlier. Title: A compensation specialist at a technology company wants to assess the competitiveness of the ... Post by: purplepanda1516 on Aug 31, 2019 Content hidden
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