Refer to the Business and Society (March 2011) study on the sustainability behaviors of CPA corporations, Exercise
Question:
Refer to the Business and Society (March 2011) study on the sustainability behaviors of CPA corporations, Exercise 6.12. Recall that the level of support for corporate sustainability (measured on a quantitative scale ranging from 0 to 160 points) was obtained for each in a sample of 992 senior managers at CPA firms. The accompanying Minitab printout gives 90% confidence intervals for both the variance and standard deviation of level of support for all senior managers at CPA firms.
a. Locate the 90% confidence interval for σ2 on the printout. Interpret the result.
b. Use the sample variance on the printout to calculate the 90% confidence interval for σ2. Does your result agree with the interval shown on the printout?
c. Locate the 90% confidence interval for s on the printout.
d. Use the result, part a, to calculate the 90% confidence interval for σ. Does your result agree with the interval shown on the printout?
e. Give a practical interpretation of the 90% confidence interval for σ.
f. What assumption about the distribution of level of support is required for the inference, part e, to be valid? Is this assumption reasonably satisfied?
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...
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9780134506593
13th Edition
Authors: James T. McClave, P. George Benson, Terry Sincich