According Mi to a National Business Travel Association (NBTA) 2010 survey, the average salary of a travel

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According Mi to a National Business Travel Association (NBTA) 2010 survey, the average salary of a travel management professional is $96,850. 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 µ>
b. What is σ?
c. Describe the shape of the sampling distribution of .
d. Find the z-score for the value  = 89,500.
e. Find P( > 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 For Business And Economics

ISBN: 9780321826237

12th Edition

Authors: James T. McClave, P. George Benson, Terry T Sincich

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