You are in charge of a local company who wants to obtain mean income of the companys
Question:
You are in charge of a local company who wants to obtain mean income of the company’s engineers to compare with the mean income of engineers in the industry. You can either obtain the population mean (parameter) or a sample mean (statistic) to reach a managerial conclusion (both describing the same property, and assume both are feasibly possible to get).Which one would you rather use? Explain.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Principles Of Managerial Statistics And Data Science
ISBN: 9781119486411
1st Edition
Authors: Roberto Rivera
Question Posted: