Question
In: Statistics and Probability
The salaries of managers at a distributing company revealed a mean income of $72,000 with a...
The salaries of managers at a distributing company revealed a mean income of $72,000 with a standard deviation of $3,000.
Using Chebyshev’s Theorem, at least what percentage of the managers $65,400 but no more than $78,600?
Using Chebyshev’s Theorem, at least what percentage of the managers earn between negative three and positive three standard deviations from the mean?
Under what conditions do you use the Chebyshev’s Theorem?
Solutions
orchestra answered 2 years agoRelated Solutions
Omega Distributing Company Omega Distributing Company specializes in supplying fragrances to retail outlets such as Goody’s...
Omega Distributing Company
Omega Distributing Company specializes in supplying
fragrances to retail outlets such as Goody’s and JCPenney. One of
its products is Smelgud. Smelgud has generated significant revenue
in the past, however top management is concerned as to whether its
pricing and advertising policies are optimal for the demand.
Partnering with some of its retail outlets Omega has undertaken to
conduct a statistical study of consumer demand for
Smelgud.
Omega’s analyst believe that the principal determinant
of consumer demand...
The American Management Association wishes to have information on the mean income of middle managers in...
The American Management Association wishes to have information
on the mean income of middle managers in the retail industry. A
random sample of 256 managers reveals a sample mean of $45,420. The
standard deviation of this population is $2,050. The association
would like answers to the following questions: a) Can we determine
what the actual population mean is? b) What is a reasonable range
(with 95% confidence) of values for the population mean? c)Explain
in words to the Association what...
SCOTT MUELLER DISTRIBUTING COMPANY &nb
SCOTT MUELLER DISTRIBUTING COMPANY
Adjusted Trial Balance
December 31, 2019
DR.
CR.
Cash....................................................................................
$12,820
Accounts
Receivable......................................................
2,700
Inventory............................................................................
8,720
Supplies.............................................................................
1,500
Equipment.........................................................................
22,000
Accumulated
Depreciation—Equipment...................
$ 2,400
Accounts
Payable...........................................................
4,500
Salaries and Wages
Payable........................................
800
Income Taxes
Payable...................................................
200
Common
Stock................................................................
15,000
Retained
Earnings...........................................................
24,300
Sales
Revenue.................................................................
18,300
Sales
Discounts...............................................................
360
Cost of Goods
Sold.........................................................
12,100
Depreciation
Expense....................................................
200
Salaries and Wages
Expense.......................................
3,200
Supplies
Expense...........................................................
1,700
Income Tax
Expense......................................................
200
$65,500
$65,500
Prepare an...
The delivery times for a distributing site are normally distributed with an unknown population mean and...
The delivery times for a distributing site are normally
distributed with an unknown population mean and standard deviation.
If a random sample of 25 deliveries is taken to estimate the mean
delivery time, what t-score should be used to find a 98% confidence
interval estimate for the population mean? df t0.10 t0.05 t0.025
t0.01 t0.005 ... … … … … … 21 1.323 1.721 2.080 2.518 2.831 22
1.321 1.717 2.074 2.508 2.819 23 1.319 1.714 2.069 2.500 2.807 24...
The delivery times for a distributing site are normally distributed with an unknown population mean and...
The delivery times for a distributing site are normally
distributed with an unknown population mean and standard deviation.
If a random sample of 25 deliveries is taken to estimate the mean
delivery time, what t -score should be used to find a 98%
confidence interval estimate for the population mean?
df t 0.10 t 0.05 t 0.025 t 0.01 t 0.005 ... … … … … … 21 1.323
1.721 2.080 2.518 2.831 22 1.321 1.717 2.074 2.508 2.819 23...
what does acquiring knowledge, distributing knowledge and retaining knowledge mean?
what does acquiring knowledge, distributing knowledge and
retaining knowledge mean?
A study is conducted to compare salaries of managers of a certain industry employed in two...
A study is conducted to compare salaries of managers of a
certain industry employed
in two areas of the country, the eastern and northern regions.
Independent ran
dom samples of 300 plant managers are selected for each of the
two regions. These
managers were asked for their annual salaries. The results
showed an average salary
x1 = $102300 and standard deviation s1 = $5700
for the eastern region and an average
salary x2 = $98500 and standard deviation s2 =...
On June 1, Cullumber Company Ltd. borrows $72,000 from Acme Bank on a 6-month, $72,000, 4%...
On June 1, Cullumber Company Ltd. borrows $72,000 from Acme Bank
on a 6-month, $72,000, 4% note. The note matures on December 1.
Prepare the entry on June 1. (Credit account titles
are automatically indented when amount is entered. Do not indent
manually.)
Date
Account Titles and Explanation
Debit
Credit
June 1
enter an account title for the entry on June 1
enter a debit amount
enter a credit amount
enter an account title for the entry on June 1...
An economic surveys 31 adults living is Townsburg about their salaries. The mean annual salaries for...
An economic surveys 31 adults living is Townsburg about their
salaries. The mean annual salaries for those surveyed was found to
be x̄ = $47,782, with a standard deviation of $2,488.
a) Find a 90% confidence interval for the true mean annual
salary of adults living in Townsburg.
b) Provide the margin of error of the interval
as your answer.
Round your answer to the nearest dollar.
ACME Fruit Distributing knows that for the last four years, the mean (or average) time it...
ACME Fruit Distributing knows that for the last four years, the
mean (or average) time it takes a particular truck to make its
rounds has been 6.32 hours with standard deviation 0.41hours.
(a) Suppose you plan to observe this truck 40times. What is the
approximate distribution of the random sample mean time? Also
specify its parameters.
(b)What is the approximate probability that this random sample
mean (with n=40) will be more than 6.7 hours?
(c) The truck route driver recently...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- What experience have you had with Organization Development or with Change Management? Describe the organization, the...
- 1. Renfro Rentals has issued bonds that have a 12% coupon rate, payable semiannually. The bonds...
- Given an array of positive integers a, your task is to calculate the sum of every...
- Define “culture.” Software is defined by the Merriam-Webster Dictionary as "the programs that run on a...
- In humans, hypotrichosis (sparse body hair) is a rare autosomal recessive condition. Let h = hypotrichosis...
- Increase all of the listing prices by 5% for all listings under $500,000 and 10% for...
- Samsung Industry that requires you to act as a change agent to form an organizational change...
ADVERTISEMENT