Faculty members in a state university system who resign within 10 years of initial employment are entitled to receive the money paid into a retirement system, plus 4% per year. Unfortunately, experience has shown that the state is extremely slow in returning this money. Concerned about such a practice, a local teachers’ organization decides to investigate. For a random sample of 50 employees who resigned from the state university system over the past 5 years, the average time between the termination date and reimbursement was 75 days, with a standard deviation of 15 days. Use the data to estimate the mean time to reimbursement, using a 95% confidence interval.

  • CreatedNovember 21, 2015
  • Files Included
Post your question