Suppose in the previous question th e analyst had random ly chosen 12 CEO com pensations for

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Suppose in the previous question th e analyst had random ly chosen 12 CEO com pensations for 2006.

a. Is it necessary to apply th e finite population correction factor? Explain.

b. Is th e sam pling distribution of th e sam ple m ean normally distributed? Explain.

c. Calculate th e expected value and th e standard deviation of th e sam ple m ean.

d. Can you use the normal approxim ation to calculate th e probability th a t th e sam ple m ean is m ore than

$12 million? Explain.

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Business Statistics Communicating With Numbers

ISBN: 9780071317610

1st Edition

Authors: Kelly Jaggia

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Suppose in the previous question th e analyst had random ly chosen 12 CEO com pensations for

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Business Statistics Communicating With Numbers

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