A union executive wants to estimate the mean value of bonus payments made to a corporation's clerical employees in the first month of a new plan. This corporation has 52 subdivisions, and a simple random sample of 8 of these is taken. Information is then obtained from the payroll records of every clerical worker in each of the sampled subdivisions. The results obtained are shown in the following table:
a. Find a point estimate of the population mean bonus per clerical employee for this month.
b. Find a 99% confidence interval for the population mean.

  • CreatedJuly 08, 2015
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