According to the most recent Global Business Travel Association (GBTA) survey, the average base salary of a

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According to the most recent Global Business Travel Association (GBTA) survey, the average base salary of a U.S. travel management professional is $94,000. Assume that the standard deviation of such salaries is $30,000. Consider a random sample of 50 travel management professionals and let x represent the mean salary for the sample.
a. What is μx̅?
b. What is σx̅?
c. Describe the shape of the sampling distribution of x̅.
d. Find the z-score for the value x̅ = 86,660.
e. Find P(x > 86,660).
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Statistics For Business And Economics

ISBN: 9780134506593

13th Edition

Authors: James T. McClave, P. George Benson, Terry Sincich

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