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Q: Confidence Interval ( No Answer,   0 Comments )
Question  
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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