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Subject:
Confidence Interval
Category: Business and Money > Economics Asked by: catsabuggin-ga List Price: $15.00 |
Posted:
22 Jul 2005 16:40 PDT
Expires: 24 Jul 2005 15:08 PDT Question ID: 546775 |
ABC Corporation of California publishes a variety of statistics, including the number of individuals who got a new job during the past 12 months and the mean length of time the individuals have been on the job. The Statistical Analysis Department of ABC Corporation reported that the mean length of time of newly employed individuals in California was 17.00 weeks. A local Chamber of Commerce for the City of Riverside has commissioned a study on the status of employment in the Riverside area. A sample of 16 employed residents of Riverside included data on the age and the number of weeks on a job. A portion of the data collected in October 2001 is shown as follows: Age Weeks Employed 55 21 30 18 23 11 52 36 41 19 25 12 42 7 45 25 25 6 40 21 25 13 25 11 59 34 49 27 33 18 35 20 a. Based on the above data, summarize the data. Use EXCEL to generate your statistical results. b. Develop a 99% confidence interval estimate of the mean age of newly hired employees. c. How would you determine whether the mean duration of employment in Riverside is greater than the California mean duration of 17.00 weeks. When ? = .01, what is your conclusion? Need this information by 24 Jul 2005 10 p.m. EST |
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