Refer to Exercise 61. Which, if any, of the following factors would force you to change your
Question:
Refer to Exercise 61. Which, if any, of the following factors would force you to change your answers? For each of the factors listed, discuss your reasoning. (Consider each part independent of the others.)
a. The size of the company employee population is known to be 5000.
b. The shape of the seniority distribution for the population of company employees is decidedly not normal.
c. The standard deviation of the seniority distribution for the population of company employees is unknown, but the sample standard deviation is 5.2 years.
DistributionThe 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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a No change So long as the sample size is less than 5 of the populatio...View the full answer
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Related Book For 
Understanding Business Statistics
ISBN: 978-1118145258
1st edition
Authors: Stacey Jones, Tim Bergquist, Ned Freed
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