In this chapter we showed how a simple random sample of 30 EAI employees can be used to develop point estimates of the population mean annual salary, the population standard deviation for annual salary, and the population proportion having completed the management training program.
a. Use Excel to select a simple random sample of 50 EAI employees.
b. Develop a point estimate of the mean annual salary.
c. Develop a point estimate of the population standard deviation for annual salary.
d. Develop a point estimate of the population proportion having completed the management training program.