# Question

Five companies make up the steel industry in the US. Last year’s sales for each of the companies (in $millions) are shown below:

a. Show all 10 equally likely samples of size three that could be selected from this company population.

b. Calculate the mean sales for each of the 10 samples.

c. Produce a table showing the relative frequency distribution for these sample means and draw the corresponding bar chart.

d. According to the distribution you produced in part c, if you were to choose a simple random sample of size three from the company population, how likely is it that the mean sales for the sample would be $110 million? How likely is it that the mean would be $110 million or more?

a. Show all 10 equally likely samples of size three that could be selected from this company population.

b. Calculate the mean sales for each of the 10 samples.

c. Produce a table showing the relative frequency distribution for these sample means and draw the corresponding bar chart.

d. According to the distribution you produced in part c, if you were to choose a simple random sample of size three from the company population, how likely is it that the mean sales for the sample would be $110 million? How likely is it that the mean would be $110 million or more?

## Answer to relevant Questions

Refer to Exercise 79. Suppose a preliminary estimate of the population standard deviation will come from a pilot sample of five new accountants showing the following values: Determine the appropriate size of the full sample ...The years of prior work experience for five recently hired software developers at MindGames.com are shown below: a. Show all 10 equally likely samples of size two that could be selected from this employee population. b. ...According to the Nielsen Company, teenagers between the ages of 13 and 17 send an average of 3340 text messages per month, or more than six texts every waking hour. You plan to draw a random sample of 900 teenagers from this ...The Canadian Retail Council conducted a survey of advertising budgets for various types of businesses in Canada. The survey reported that the average advertising budget for a random sample of furniture stores was 7.1 percent ...Use the t table to determine the following t values: a. 99% of the values in a t distribution with 18 degrees of freedom will be less than or equal to ______. b. 1% of the values in a t distribution with 10 degrees of ...Post your question

0