According to a 2012 Business Travel News survey, the average salary of a travel manager is $110,550.
Question:
According to a 2012 Business Travel News survey, the average salary of a travel manager is $110,550. Assume that the standard deviation of such salaries is $30,000. Consider a random sample of 50 travel managers, and let x̅ represent the mean salary for the sample.
a. What is (x̅?
b. What is (x̅?
c. Describe the shape of the sampling distribution of x̅.
d. Find the z-score for the value x̅ = $100,000.
e. Find P(x̅ > 100,000).
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 m x is the man of the sampling distribution of x m x m 110 550 ...View the full answer
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