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

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

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

Edition: 7^th

Authors: Anderson, Sweeney, Williams, Camm, Cochran

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henry11 Author

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Smart ... Thanks!

jmendoza

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Brilliant ツ

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Good timing, thanks!

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