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henry11 henry11
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3 weeks ago

The following data shows the yearly income distribution of a sample of 200 employees at MNM, Inc.

 

Yearly Income
(In $1,000s)

Number
of Employees

20 - 24

2

25 - 29

48

30 - 34

60

35 - 39

80

40 - 44

10


 

a.What percentage of employees has yearly incomes of $35,000 or more?
b.Is the figure (percentage) that you computed in Part a an example of statistical inference? If no, what kind of statistics does it represent?
c.Based on this sample, the president of the company said that "45% of all our employees' yearly incomes are $35,000 or more." The president's statement represents what kind of statistics?
d.With the statement made in Part c, can we be assured that more than 45% of all employees' yearly incomes are at least $35,000? Explain.
e.What percentage of employees of the sample has yearly incomes of $29,000 or less?
f.How many variables are presented in the above data set?
g.The above data set represents the results of how many observations?

Textbook 
Essentials of Statistics for Business and Economics

Essentials of Statistics for Business and Economics


Edition: 7th
Authors:
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Ama1911Ama1911
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More solutions for this book are available here


a.45%
b.No, it is Data and Statistics.
c.statistical inference
d.No, this is simply an inference and approximation based on the sample information.
e.25%
f.2
g.200
1

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henry11 Author
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3 weeks ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
shelbycox
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Yesterday
Just got PERFECT on my quiz
ofsuahasiufhoas
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2 hours ago
Thank you, thank you, thank you!
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