According to a Natimal Business Travel Association (NBTA) 2008 survey, the average salary of a travel management

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According to a Natimal Business Travel Association (NBTA) 2008 survey, the average salary of a travel management professional is $97,300. 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 μx-bar?
b. What is σx-bar?
c. Describe the shape of the sampling distribution of x-bar.
d. Find the z -score for the value x-bar = $89,500.
e. Find P(x-bar > 89,500).
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

ISBN: 9780321755933

12th Edition

Authors: James T. McClave, Terry T Sincich

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